----------------- HES POSTING ----------------- Hayek-L On-line Seminar -- Announcement Steven Horwitz on his new book _Microfoundations and Macroeconomics: An Austrian Perspective_ Jan. 22 - Feb. 1, 2001 Steven Horwitz will be hosting a seminar on his recent book _Microfoundations and Macroeconomics: An Austrian Perspective_ between Jan. 22 and Feb. 1 on the Hayek-L email list, on the web at: http://maelstrom.stjohns.edu/archives/hayek-l.html Those who wish to participate in the seminar may subscribe to the Hayek-L email list via the Hayek-L web site, or by sending the message: subscribe Hayek-L yourfirstname yourlastname to: [log in to unmask] Horwitz's online seminar will begin Monday Jan. 22 with an informal introduction to the contents & arguments of his book _Microfoundations and Macroeconomics: An Austrian Perspective_. Steve will then field questions & reply to comments on the contents of his book thru the next week and a half on the Hayek-L email list, concluding Thursday, Feb. 1. Horwitz's book may be purchased at 75% discount online from Laissez Faire Books at: http://www.laissezfairebooks.com/product.cfm?op=view&pid=AU8241&aid=10097 Table of Contents Introduction: Is There an Austrian Macroeconomics? The fundamentals of an Austrian macroeconomics A brief comparison with mainstram macroeconomics Outline of the book I.. Market Process Microeconomics Chapter 1: Prices, Knowledge, and Economic Order A Mengerian view of the market process Which way forward? Austrian economcis between the wars Hayek on prices and knowledge Kirzner’s theory of entrepreneurship Prices in equilibrium and disequilibrium A note on tendencies toward equilibrium Monetary calculation and the market process Conclusion Chapter 2: The Missing Link: Capital Theory as Microfoundations An overview of classical and neoclassical approaches to capital Plans, subjectivism, and the concept of capital Heterogeneity and the capital structure Money, capital, and the banking system Capital in the Hayek-Keynes debate Conclusion II. The Macroeconomics of Monetary Disequilibrium Chapter 3: Monetary Equilibrium as an Analytical Framework The monetary and the real economy Monetary equilibrium defined Monetary equilibrium, loanable funds, and interest rates Monetary equilibrium and Austrian economics Capital-theoretic foundations of monetary equilibrium Monetary equilibrium, the Classics, and Keynes The Classical model Say’s Law and monetary equilibrium The Keynesian model from a monetary equilibrium perspective The Quantity Theory, monetarism, and New Classical economics The neutrality of money and price level policy A brief stocktaking Chapter 4: Inflation, the Market Process, and Social Order Inflation and an excess supply of money The standard economics of inflation Comparative institutional approaches Inflationary monetary disequilibria Relative price effects and monetary calculation The capital structure and Austrian business cycle theory Coping costs and economic welfare The political economy of inflation Contract, hegemony, and social order Conclusion Chapter 5: Monetary Equilibrium Theory and Deflation The Yeager-Greenfield approach The Clower-Leijonhufvud version Deflationary monetary disequilibria Say’s Law and the mediating role of money Deflation, the productivity norm, and the price system The welfare costs of deflation The New Keynesians on price stickiness Rothbard on changes in the purchasing power of money Conclusion Chapter 6: W. H. Hutt on Price Rigidities and Macroeconomic Disorder Hutt on the labor market Say’s Law and the cumulative idling process Keynes and labor market coordination Inflation as crude coordination Wage rigidity, inflation, and sub-optimal full employment Hutt on Yeager and Leijonhufvud Price coordination and monetary equilibrium III. Policy Implications and Conclusions Chapter 7: Monetary Policy, Monetary Regimes, and Monetary Disequilibria The discretion vs. rules dilemma under central banking The operation of a free banking system Free banking, central banking, and monetary equilibrium The BFH system as a plausible alternative Austrian economics and 100 percent reserve banking Free banking and the microeconomic discovery process Conclusion Chapter 8: Conclusion: Microfoundations and Macroeconomics Steven Horwitz is Associate Professor of Economics at St. Lawrence University. Horwitz in the author of the book _Monetary Evolution, Free Banking, and Economic Order_, as well as many papers in economic theory. His email address is: [log in to unmask] Horwitz's web site is at: http://it.stlawu.edu/shor/ Information on the Hayek-L email list, along with information on past Hayek-L seminars can be found at the Hayek-L email list home page, on the web at: http://www.hayekcenter.org/hayek-l/hayek-l.html If you have any questions about the Hayek-L list or the Horwitz seminar, please send a message directly to: [log in to unmask] Greg Ransom Hayek-L list host [log in to unmask] ------------ FOOTER TO HES POSTING ------------ For information, send the message "info HES" to [log in to unmask]