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The Servants of Obama's Machinery: F.A. Hayek's The Road to Serfdom Revisited? — A Reply

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  • Peter J Boettke

    (Department of Economics, George Mason University, MS 3G4, Fairfax, VA 22030, USA.)

  • Nicholas A Snow

    (Department of Economics, George Mason University, MS 3G4, Fairfax, VA 22030, USA.)

Abstract

This paper replies to “The Servants of Obama's Machinery,” which is a criticism of Boettke's interpretation of Hayek's ideas in The Road to Serfdom. We find the authors raise many interesting questions for both political economy and history of thought but ultimately are unconvincing in their critique. In addition to responding to their overall critique, we also respond to their smaller points on Hayek and Arrow, Public Choice, and the historical problems they raise. Despite our disagreement we believe this is a fruitful line of discussion and deserves to be looked into further both theoretically and empirically.

Suggested Citation

  • Peter J Boettke & Nicholas A Snow, 2012. "The Servants of Obama's Machinery: F.A. Hayek's The Road to Serfdom Revisited? — A Reply," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 38(4), pages 428-433.
  • Handle: RePEc:pal:easeco:v:38:y:2012:i:4:p:428-433
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    1. Mark Gertler & Simon Gilchrist & Fabio M. Natalucci, 2007. "External Constraints on Monetary Policy and the Financial Accelerator," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(2-3), pages 295-330, March.
    2. Backus, David K & Kehoe, Patrick J, 1992. "International Evidence of the Historical Properties of Business Cycles," American Economic Review, American Economic Association, vol. 82(4), pages 864-888, September.
    3. Calvo, Guillermo A., 1983. "Staggered prices in a utility-maximizing framework," Journal of Monetary Economics, Elsevier, vol. 12(3), pages 383-398, September.
    4. Reinhart, Carmen & Calvo, Guillermo, 2000. "When Capital Inflows Come to a Sudden Stop: Consequences and Policy Options," MPRA Paper 6982, University Library of Munich, Germany.
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