Publisher's Synopsis
The papers in this volume discuss the so-called neo-Austrian position on the adaptation processes in a market economy. Basically, the neo-Austrian position is that government intervention in these processes is for the most part unnecessary and frequently undesirable, as intervention tends to increase instability. In this book a number of leading economists present the classical-liberal ideas of the neo-Austrian school against the views of a group of mainstream (Keynesian, neo-classical and institutional) economists.
