That my Microeconomics textbook features F.A Hayek in it? They have some of his quotations, and the last page with influential economists he stands by Adam Smith, David Ricardo, Jevons, Marshall, Keynes, Friedman, and Robert Lucas?
The textbook is called Microeconomics: Private and Public Choice by Gwartney btw.
It wouldn’t be Micro Economics if an Austrian wasn’t featured.
But yes, they generally feature Hayek/Mises.
I was suprised that a movie I watched about economics mentioned Hayek. It appears that he is sort of well known.
Correct me if I’m wrong but I thought that Mises, Rothbard, and Hayek (in that order) were the most famous Austrian economists. It doesn’t suprise me that they had one of these people but I’m suprised that it would be Hayek mentioned
I would suggest it goes Hayek, Mises, Rothbard (in that order). In terms of mainstream, common acknowledgment, within “free market” crowds etc
I agree. In mainstream economics texts I have only ever seen Hayek mentioned let alone Mises. I did see Mises and Kirzner cited once in an article in my Business history module in reference to the entrepeneur. Rothbard though has never been cited.
Don’t forget Hayek won the Nobel prize so he’s pretty difficult to ignore. He’s also probably one of the most “presentable” (ie moderate) Austrian economists so he won’t scare away the usual crowd of Keynesians and post-Marxists.
Sloman’s text does actually make an effort to present Mises’s and Hayek’s views on socialism and mentions the school here and there as one which passionately argues for unfettered markets. But obviously they are just FYI references and go into no depth whatsoever. I’d say the way they present Mises’s views is actually harmful because to be correctly understood one must know the ways in which Austrianism differs from neoclassical analysis.
My economics professor champions the free market and in the same breath promotes every government spending program that comes along. He just can’t stop talking about cash for clunkers. I really feel sorry for students who have not had the benefit of some individual reading, but only have there text and a statist economics professor to guide them.