December 1, 1995

Whose Economics, Which Economic Liberalism

  • Peter J. Boettke

    Director, F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics
Contact us
To speak with a scholar or learn more on this topic, visit our contact page.

Robert Lucas is a brilliant man. But his theory of human behavior fails to account for the diversity of individual perception, his theory of market equilibrium mischaracterizes the economic order, and the policy implications that flow from his theories render the laissez-faire position vulnerable on several fronts.

Read the article at the Freeman Online.