Bruce Caldwell (economist): Tradition

Bruce Caldwell (economist) is economic historian. Explore interesting quotes on tradition.

Bruce Caldwell (economist): 16 quotes 1 like

“It is probably best to start off by noting that Hayek knew a lot about Mill, probably for a time more than any other contemporary scholar. So we should not underestimate him.
Next, what he had to say about Mill, what portion of Mill’s work he drew upon, was very much dictated by the sort of project he was working on. When he was making an argument about how the British liberal tradition lost its bearings, or about how Comtean positivism came to be known and gained influence across Europe, Mill was classed among the perpetrators. When he was writing about what made the British liberal tradition great, Mill could be one of the heroes. There is, I think, no inconsistency in the fact that Hayek could hold both views simultaneously.”

Bruce Caldwell (economist)

"Hayek and Mill", History of Political Economy (2008)

Thinking , Time

“Critics argue that Hayek mixed a number of ethical and political philosophies in constructing his system, positions that do not necessarily cohere one with another and all of which have been independently criticized. … There are evident tensions as well between his earlier advocacy of planning a framework of law and his later enthusiasm for the gradual evolution of judge-made common law. Finally, Hayek's opinion that judges operating under the common law tradition are bound to draw "conclusions that follow from the existing body of rules and the particular facts of the case" has struck more than one observer as naive. If one is judging his work against the standard of whether he provided a finished political philosophy, Hayek clearly did not succeed.”

Bruce Caldwell (economist)

Source: Hayek's Challenge: An Intellectual Biography of F. A. Hayek (2004), Ch. 14 : Journey’s End—Hayek’s Multiple Legacies

Law , Drawing

“Some may wish to argue that Hayek was simply born with a sort of natural pessimism or cynicism, and that this generated his long standing belief in the inherent limitations that humans face when they try to intervene in social phenomena. Perhaps. But it is also possible that this view was the product of his having come of age during the final collapse of an already broken-down empire, of having experienced the multiple forms of disaster that surrounded postwar Vienna and enveloped interwar central Europe, and of having witnessed the failures of various high-minded social experiments to achieve anything like what their exponents had promised. In bearing witness to so much tragedy Hayek was again very much a part of the larger Austrian tradition. His famed ‘‘epistemic pessimism’’ may well have been another result of that larger experience.”

Bruce Caldwell (economist)

"Hayek and the Austrian tradition", in Edward Feser(ed.), The Cambridge Companion to Hayek (2006)

Age , Failure , Nature , Parting

“There are two elements of Hayek’s background that justify our considering him an Austrian economist: first, that he was raised and went to university in Vienna in the first three decades of the twentieth century, and second, that when he finally decided on economics as his field of study, he was trained within the Austrian tradition in economics.”

Bruce Caldwell (economist)

"Hayek and the Austrian tradition", in Edward Feser(ed.), The Cambridge Companion to Hayek (2006)

Study , Universe , Training