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The Economic Consequences of the War

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Reinventing Liberalism

Abstract

Innset follows the various thinkers connected to the neoliberal project since the 1938 Lippmann Colloquium through the war years, in which their organizational efforts were stifled. In spite of many attempts, Hayek failed to gain an official position within the British war effort and was exiled with his LSE colleagues to Kings College in Cambridge , where he wrote The Road to Serfdom. A number of other neoliberals would write books containing the dual argument during the war, and immediately after Hayek toured the USA gaining valuable contacts and financial support for his “army of freedom fighters”. In continental Europe, neoliberals like Röpke , Eucken , Rougier and De Jouvenel balanced the relationship to fascism and Nazism in a variety of ways.

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Notes

  1. 1.

    Full transcript of the interview is available at http://www.pbs.org/wgbh/commandingheights/shared/minitext/int_tonybenn.html (last accessed 03.03.2017).

  2. 2.

    Hoover Institution Library and Archives, Friedrich Hayek Collection, Box 105, Folder 24: “Die politischen folgen der Planwirtschaft”.

  3. 3.

    Hoover Institution Library and Archives, Friedrich Hayek Collection, Box 105, Folder 26.

  4. 4.

    Hoover Institution Library and Archives, Friedrich Hayek Collection, Box 61, Folder 5.

  5. 5.

    Erwin Dekker sees a similar type of tension in the work of Austrian thinkers like Hayek and Popper, namely “the tension between on the one hand, the strong conviction of the futility of science or art in the face of tyranny, and on the other hand, the feeling that one has the moral duty to do something” (Dekker 2016, 136).

  6. 6.

    Yale University Library, Walter Lippmann papers, Selected correspondence 1931–1974, Box 10, Folder 11: Hayek.

  7. 7.

    Hoover Institution Library and Archives, Fritz Machlup Collection, Box 43, Folder 15: “Hayek, Friedrich—1933–1944”.

  8. 8.

    In a lecture to the infamous Conservative Monday Club in London, in 1980, Hayek would also claim that rationing and economic planning would be less efficient even during wartime. Hoover Institution Library and Archives, Friedrich Hayek Collection, Box 104, Folder 4: “Problems of War Economy”.

  9. 9.

    Hoover Institution Library and Archives, Friedrich Hayek Collection, Box 107, Folder 6: “Austria: Advance Post in Europe”.

  10. 10.

    Yale University Library, Walter Lippmann papers, Selected correspondence 1931–1974, Folder 1848: Louis Rougier.

  11. 11.

    Yale University Library, Walter Lippmann papers, Selected correspondence 1931–1974, Folder 1848: Louis Rougier.

  12. 12.

    Hoover Institution Library and Archives, Fritz Machlup Collection, Box 43, Folder 16: “Radio Script”.

  13. 13.

    Hoover Institution Library and Archives, Friedrich Hayek Collection, Box 61, Folder 8: “Memorandum on the Proposed Foundation for an Academy of Political Philosophy, Tentatively Called ‘The Acton-Tocqueville Society’—Typescript 1945”.

  14. 14.

    Hoover Institution Library and Archives, Friedrich Hayek Collection, Box 106, Folder 8:“The Road to Serfdom Speech—The Economic Club of Detroit, Michigan—April 24, 1945”.

  15. 15.

    Hoover Institution Library and Archives, Friedrich Hayek Collection, Box 107, Folder 7: “The Prospects for Freedom, 1946”.

  16. 16.

    Hoover Institution Library and Archives, Friedrich Hayek Collection, Box 61, Folder 8, “Memorandum on the proposed foundation of an international academy of political philosophy tentatively called ‘The Acton-Tocqueville Society’”.

  17. 17.

    Hoover Institution Library and Archives, Mont Pelerin Society, Box 5, Folder 10, “Plan for an international periodical”.

  18. 18.

    Hoover Institution Library and Archives, Mont Pelerin Society, Box 5, Folder 3, “Mont Pelerin Correspondence”.

  19. 19.

    Hoover Institution Library and Archives, Mont Pelerin Society, Box 5, Folder 15, “Mont Pelerin Report”.

  20. 20.

    Friedrich Naumann Stiftung für die Freiheit, Archives of the Liberal International: “Oslo 1946” and “Oxford 1947”.

  21. 21.

    Hoover Institution Library and Archives, Friedrich Hayek Collection, Box 61, Folder 9, “Cover letter to Albert Hunold”.

  22. 22.

    Hoover Institution Library and Archives, Fritz Machlup Collection, Box 43, Folder 16, “Radio Script”.

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Innset, O. (2020). The Economic Consequences of the War. In: Reinventing Liberalism. Springer Studies in the History of Economic Thought. Springer, Cham. https://doi.org/10.1007/978-3-030-38885-0_4

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