This book provides the definitive account of this watershed and traces the
evolution of laissez-faire using the cases of its proponents, Frank Knight, Henry
Simons, Friedrich von Hayek, Milton Friedman, James Buchanan and Robert Lucas. By
elucidating the pre-analytical framework of their writings, Sherryl Kasper accounts
for the ideological influence of these pioneers on theoretical work, and illustrates
that they played a primary role in founding the theoretical and philosophical use of
rules as the basis of macroeconomic policy. A case study of the way in which
interwar pluralism transcended to postwar neoclassicism is also featured.