Prices and Production
E84434
Prices and Production is a seminal economic work by Friedrich Hayek that develops his theory of the business cycle and the role of monetary disturbances in causing economic fluctuations.
Statements (49)
| Predicate | Object |
|---|---|
| instanceOf |
book
→
economic treatise → |
| academicDiscipline |
economics
→
macroeconomic theory → monetary economics → |
| associatedWith |
Austrian School of economics
→
London School of Economics → |
| author |
F. A. Hayek
→
Friedrich Hayek → |
| basedOn |
Hayek’s London School of Economics lectures
→
|
| circulation |
academic readership in economics
→
|
| countryOfOrigin |
United Kingdom
→
|
| firstPublicationDate |
1931
→
|
| genre |
Austrian School economics
→
economics → macroeconomics → |
| hasPart |
analysis of relative price changes
→
discussion of forced saving → exposition of multi-stage production structure → treatment of neutral money concept → |
| hasRevisedEdition |
second edition with additional material
→
|
| historicalContext |
Great Depression era economic debates
→
|
| influenced |
Austrian business cycle theory
→
macroeconomic debates in the 1930s → monetary overinvestment theories → |
| influencedBy |
Böhm-Bawerk’s capital theory
→
Knut Wicksell → Ludwig von Mises → |
| language |
English
→
|
| libraryOfCongressClassification |
HB
→
|
| mainSubject |
business cycle
→
capital theory → economic fluctuations → monetary disturbances → monetary theory → |
| notableFor |
being one of Hayek’s earliest major English works
→
shaping early 20th-century business cycle theory debates → systematic presentation of Austrian capital-based macroeconomics → |
| publisher |
Routledge & Kegan Paul
→
|
| relatedWork |
Monetary Theory and the Trade Cycle
→
Profits, Interest and Investment → The Pure Theory of Capital → |
| theoreticalContribution |
analyzes role of monetary disturbances in economic fluctuations
→
argues that credit expansion can cause unsustainable booms → develops Hayek’s theory of the business cycle → emphasizes intertemporal structure of production → explains how monetary policy can generate cyclical unemployment → links interest rate distortions to malinvestment in capital structure → |
| timePeriodDiscussed |
interwar period
→
|
Referenced by (1)
| Subject (surface form when different) | Predicate |
|---|---|
|
Friedrich Hayek
→
|
notableWork |