- Elgar original reference
Edited by Roger W. Garrison and Norman Barry
Chapter 8: Hayek and Lachmann
Friedrich Hayek was a scholar of uncommon breadth and depth whose work will be the subject of study and discovery for a long time to come. The span of his career makes it difficult, probably impossible, to account for all of the influences that the many scholars who crossed his path might have had on his work, or the influences that he might have had on theirs. No doubt this will motivate diverse contributions. Some of the usual suspects appear in other chapters of this volume. In this chapter I investigate the intellectual relationship between Hayek and his student and younger colleague Ludwig M. Lachmann. I begin at the beginning, the London School of Economics (LSE) years, during which Hayek and Lachmann both worked on the related topics of the trade cycle and capital theory. I follow with an examination of their diverging but related subsequent work. The capital theory experience is pivotal.
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