Hayek and the Methodenstreit at the LSE
Friedrich Hayek’s Inaugural Address at the London School of Economics (LSE), ‘The Trend of Economic Thinking’ (1 March 1933), has been recognized as of particular importance for the understanding of his work. In it, Hayek argues that economics has a key role of showing what we cannot achieve: of showing that some attractive ideals are utopian. In developing this theme, Hayek referred to Mises’ arguments about the problems of economic calculation under socialism; but the idea – which I suggest...[Show more]
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