Hayek's Journey: The Mind of Friedrich Hayek

Rating:
Summary: Recommended.
Review: A very good starting point for those who have heard about Hayek and his ideas, but are not ready to jump into the details of his other works. A few well known traders say that to do well in the stock market, one must have a good understanding of the thinking of the Austrian School.

This book summarizes the ideas and discusses his many books, most of which are currently in print. It is written in an easy to read style. It may help you decide which of Hayek's works to read first.

I enjoyed it.

Rating:
Summary: Only goes so far in explaining the genius
Review: Frederich Hayek was a genius who happened upon his brilliance by both nature and nurture. He lived in an era which thought it not unusual to work in both the physical and social sciences. In Hayek's case it was most important that his first love was biology since the evolutionary underpinnings of society were fundamental to his approach to the social sciences.

He is today remembered for such classics as THE FATAL CONCEIT, THE CONSTITUTION OF LIBERTY and especially THE ROAD TO SERFDOM. He excelled in many categories and it was this fusion of various fields that made his work so unique and so vital. Starting as a scientist in the tradition of Ernest Mach, he soon began studies in economics, particularly value. From semi-Socialist leanings he became convinced of the link between economic and political freedom. This was the subtext of THE ROAD TO SERFDOM.

His argument against collectivism and central-run economies are as valid today as they were in the early part of last century. Central economies fail because 1) Society has too much knowledge to be centrally commanded (2) all economic decisions become political and thus authoritarian and noncreative and (3) there is no way to set value (price) under Socialism.

THE SENSORY ORDER dealt with epistomology, then he branched out to philosophy and politics. As an example of how Socialist we have become, Hayek's views were called ""liberal" and are now called "conservative" despite the fact that they're unchanged. He wrote one piece "WHY I AM NOT A CONSERVATIVE" which is a clarion call for libertarianism and classical liberalism.

The book examines the clashes between intellectual giants - von Mises, Popper, Mach, Wittgenstein (his cousin) and others. He was a secularist, a capitalist and a political liberal in the classical sense. His work on monetary policy still affects us (adjusting interest rates to increase or decrease the money supply, "floating" currencies externally). His influence with Western politicians and intellectual leaders was and is huge. He won the Nobel Prize for Economics in appreciation for his many contributions.

Almost as an afterward Hayek issued a brilliant statement. The aim of all economists is the increase in material wealth. He wanted this accomplished through an increase in wealth (capitalism) rather than a confiscation / redistribution of wealth (socialism / central run economies). The battle between these two points of view are with us today.

Rating:
Summary: Only goes so far in explaining the genius
Review: Frederich Hayek was a genius who happened upon his brilliance by both nature and nurture. He lived in an era which thought it not unusual to work in both the physical and social sciences. In Hayek's case it was most important that his first love was biology since the evolutionary underpinnings of society were fundamental to his approach to the social sciences.

He is today remembered for such classics as THE FATAL CONCEIT, THE CONSTITUTION OF LIBERTY and especially THE ROAD TO SERFDOM. He excelled in many categories and it was this fusion of various fields that made his work so unique and so vital. Starting as a scientist in the tradition of Ernest Mach, he soon began studies in economics, particularly value. From semi-Socialist leanings he became convinced of the link between economic and political freedom. This was the subtext of THE ROAD TO SERFDOM.

His argument against collectivism and central-run economies are as valid today as they were in the early part of last century. Central economies fail because 1) Society has too much knowledge to be centrally commanded (2) all economic decisions become political and thus authoritarian and noncreative and (3) there is no way to set value (price) under Socialism.

THE SENSORY ORDER dealt with epistomology, then he branched out to philosophy and politics. As an example of how Socialist we have become, Hayek's views were called ""liberal" and are now called "conservative" despite the fact that they're unchanged. He wrote one piece "WHY I AM NOT A CONSERVATIVE" which is a clarion call for libertarianism and classical liberalism.

The book examines the clashes between intellectual giants - von Mises, Popper, Mach, Wittgenstein (his cousin) and others. He was a secularist, a capitalist and a political liberal in the classical sense. His work on monetary policy still affects us (adjusting interest rates to increase or decrease the money supply, "floating" currencies externally). His influence with Western politicians and intellectual leaders was and is huge. He won the Nobel Prize for Economics in appreciation for his many contributions.

Almost as an afterward Hayek issued a brilliant statement. The aim of all economists is the increase in material wealth. He wanted this accomplished through an increase in wealth (capitalism) rather than a confiscation / redistribution of wealth (socialism / central run economies). The battle between these two points of view are with us today.

Rating:
Summary: Another disppointing treatment of Hayek
Review: I read Ebenstein's biography of Hayek with high expectations, only to find the work disjointed, inadequate, and incomplete, and I was left with the feeling that either the author did not understand Hayek, had problems expressing himself or did not do adequate research.

When this title hit the bookshops, I immediately purchased a copy thinking that this volume would make up for the inadequacies of the first. But again, I am left with the feeling that a better work on the life and writings of the great Von Hayek is still to be written!

Rating:
Summary: A valuable thematic supplement
Review: In this readable volume, Ebenstein offers an overview of Hayek's thought organized thematically rather than chronologically. It is meant as a companion volume to Ebenstein's biography of Hayek, but I read it as a supplement to Caldwell's intellectual biography, Hayek's Challenge.

Being only modestly acquainted with 20th century history, and even less so on economic and political theories, I strongly endorse reading a historical account of Hayek prior to considering this thematic presentation. Hayek was a man of his time, passionately contending with political ideologies and economic centralization that he felt threatened individual liberties. In my view, a historical approach can more aptly express the interplay of social, cultural, and personal influences that shaped Hayek's life and thought.

Be that as it may, Ebenstein has done a fine job in this book. Each chapter is devoted to a specific idea of, or a major influence on, Hayek. Foundational ideas incorporated into Hayek's thought are discussed (Darwinianism, German historicism, Austrian school economics) as are significant works that denoted major changes in his thought. Individual chapters deal with Mises, Keynes, Friedman and Popper, and another contrasts Hayek's thought with Marx, Mill, and Freud. Hayek's major economic thought is address in chapters devoted to both his early years and his later work.

I recommend this book primarily as a ready and current reference for the ongoing debates and interpretations of Hayek. Ebenstein's Bibliographical Essay on the collected works of Hayek may be an essential source for those studying this man.