"The book, as it stands, seems to me to be one of the most frightful muddles I have ever read, with scarcely a sound proposition in it beginning with page 45, and yet it remains a book of some interest, which is likely to leave its mark on the mind of the reader. It is an extraordinary example of how, starting with a mistake, a remorseless logician can end up in bedlam."
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Collected Works, vol. XII on Hayek's Prices and Production (1931); Hayek provided historical background up to page 45, after that came his theoretical model.
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John Maynard Keynes and Friedrich Hayek
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