Contra Hayek and Austrian Economics
Friedrich
Hayek ranks along with Milton Friedman as the iconic spokesman for so-called
“free market” economics. His influence extends wider than many socialists have
been willing to recognize; in fact, well beyond what can be described as
"conservative intellectuals." Amartya Sen, John Roemer, David
Schweikhart, Geoffrey Hodgson, Alec Nove, Vaclav Havel and Margaret Thatcher
have all used his theory, in one way or another, as a stick to beat down the
possibility that anything other than economies based upon private enterprise
combined with markets can furnish a high standard of living in a complex,
industrialized society. His ideas have not only had a strong impact on a wide
spectrum of intellectuals, and corporate and political elites but he also has a
vocal "grassroots" following that arguably dwarfs any left movement.
This kind of intellectual dominance does have an unidentified influence on
general patterns of thinking. Two of his most famous anti-socialist polemics,
The Road to Serfdom and The Fatal Conceit, were accessibly written texts for
mass audiences.
Since
so many of his acolytes remain blissfully ignorant of the many
critiques of his work by
radical economists and social scientists, the presentation of a
selected bibliography of works criticizing his views across a wide
span of subject by a disparate
contingent of authors seems overdue.
Contra Hayek: A Select Bibliography of critiques of Hayek and Austrain Economics in General
1. Criticisms of Hayek's economic history and theories of Emergent Order
Andy Dennis - Friedrich Hayek: A Panglossian Evolutionary Theorist
Hayek and the Emergence of Spontaneous Order
Review of Hayek's Challenge: An Intellectual Biography of Friedrich Hayek
Hilary Wainwright - Arguments for a New Left: Answering the Free Market Right, Blackwell, 1994
Amartya Sen - Development as
Freedom p. 256-261 (note here Sen criticizes Hayek's
interpretations of Adam Smith and Hayek's thesis of unintended
consequences, elsewhere Sen has invoked Hayek to argue that planning is
unreasonable and that the market mechanism is the only viable option
for ensuring 'economic freedom'.
Emma Rothschild - Economic Sentiments: Adam Smith, Condorcet and the Enlightenment
Michael Perelman - Class Warfare in the Information Age (1998)
Maurice Dobb - Studies in the Development of Capitalism, 1963
Branko Horvat - The Political Economy of Socialism, 1982
Chris Harman - The Crisis of Bourgeois Economics
2. Criticisms of Hayek's arguments in the debate on economic calculation
Robin Cox - The "Economic Calculation" controversy: unravelling of a myth
Pat Devine and Fikret Adaman- Socialist Renewal: Lessons from the Calculation Debate
Allin Cottrell and Paul Cockshott - Information and Economics: A Critique of Hayek
Kamran Nayeri - Socialism and the Market: Methodological Lessons from the Calculation Debate
Mick Brooks - The Socialist Calculation Debate
Michal Polak -The Real Third Way
3. Critiques of Hayek's philosophy
Joo Hyoung Ji- Liberal Fatalism: An Assessment of Hayek's Liberalism and Critique of Constructivist Rationalism
Alain de Benoist - Hayek: A Critique
4. Critiques of Hayek's conception of capital and the business cycle
Piero Sraffa - Dr. Hayek on Money and Capital, in "Economic Journal", n. 42, pp. 42-53. (1932)
Heinz D. Kurz - Sraffa’s Reception of the German Economics Literature
5. Critiques of Hayek's underlying Ethical Preconceptions
Johm McMurtry–Unequal Freedoms: the Global Market as an Ethical System, p. 53-56
6. Hayek's toleration of dictatorship
Michael A. Lebowitz -Ideology and Economic Development
7. Critiques of Hayek's Conception of the entrepreneur
Fikret Adaman and Pat Devine - A Reconsideration of the Theory of Entrepreneurship: A Participatory Approach
Theodore Burczak - A Critique of Kirzner's Finders-Keepers Defense of Profit