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Hayek's Geldtheoretische Untersuchungen : New insights from a 1925--29 typescript

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  • Hansjoerg Klausinger

Abstract

The paper discusses the significance of a -- hitherto neglected -- typescript (1925--29) of an abandoned book project, Geldtheoretische Untersuchungen , by Friedrich A. Hayek. It examines the origins of this book project and the circumstances responsible for its premature termination. There follows a broad overview of the framework for the analysis of money, time and the cycle that Hayek developed in the Untersuchungen and, finally, some specific aspects are highlighted that appear noteworthy in light of conventional interpretations of Hayek's thought. The most remarkable insights to be gained are on Hayek's sustained focus on adjustment processes and the obstacles -- money and the time structure of production -- that he perceived for an economy to attain the equilibrium as analysed by ‘static theory’.

Suggested Citation

  • Hansjoerg Klausinger, 2011. "Hayek's Geldtheoretische Untersuchungen : New insights from a 1925--29 typescript," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 18(4), pages 579-600, October.
    • Handle: RePEc:taf:eujhet:v:18:y:2011:i:4:p:579-600
    DOI: 10.1080/09672567.2010.540338
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    References listed on IDEAS

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    1. Hayek, F. A., 2012. "The Trend of Economic Thinking," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226321363 edited by Bartley, III, W. W. & Kresge, Stephen, December.
    2. Hayek, F. A., 1995. "Contra Keynes and Cambridge," University of Chicago Press Economics Books, University of Chicago Press, number 9780226320656 edited by Caldwell, Bruce, September.
    3. repec:ucp:bkecon:9780226320670 is not listed on IDEAS
    4. Kurz,Heinz D. (ed.), 2000. "Critical Essays on Piero Sraffa's Legacy in Economics," Cambridge Books, Cambridge University Press, number 9780521580892, October.
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