Two days ago I wrote "Austrian Economics: What Business Executives Should Know." Today the Wall Street Journal's blog Real Time Economics has an article about Friedrich Hayek's The Road to Serfdom. So I guess it is an important topic. If you read the article, be sure to add Don Boudreaux's cogent response on his blog, Cafe Hayek.
On a personal note, I had dinner with Hayek many years ago. I attended a seminar on Austrian economics (thank you Institute for Humane Studies) at which Hayek was the final dinner speaker. As we were taking our places in the banquet hall, none of my fellow scholars dared to take the seat next to the Nobel laureate. I sat down, introduced myself, and had a grand chat with one of the greatest economists of the 20th century.
Do you remember the conversation?
Posted by: Greg Ransom | June 17, 2010 at 04:52 PM
Holy crap you had dinner with Friedrich Hayek? You are one lucky man! It must've been an informative and enlightening conversation!
If I had a dinner with him, I'd ask him about everything from the World Cup to Barack Obama's Presidency to Murray N. Rothbard to Anti-Trust laws to his favorite food!
Posted by: A_moran3 | June 20, 2010 at 04:36 PM
I don't remember much of the conversation, but I do recall that we talked a little bit about methodology. Hayek observed that he knew of no major issue in economics that had been resolved through empirical research. (not an exact quote).
Posted by: Bill Conerly | June 22, 2010 at 10:02 AM