Frederick Hayek's behavioral economics in historical context
pp. 1-34
in: Roger Frantz, Robert Leeson (eds), Hayek and behavioral economics, Berlin, Springer, 2013Abstract
In history of economic thought and comparative economic systems classes my lectures include Hayek's Road to Serfdom and his part in the socialist-planning debate. Hayek gained much renown for his work on the socialist calculation debate, including his book The Road to Serfdom (1944). The book gained Hayek much notoriety but his belief that the book was too popular (there was a Readers Digest edition) and not rigorous enough led him to pursue something more 'scientific" and "rigorous." The result was The Sensory Order (1952), an investigation into the relationship of the brain and memory, and the nature of the human mind.
