================= HES POSTING ================= I should have also listed Lawrence White's _Free Banking in Britain_ as an example of a work by an Austrian economist which is simultaneously a cutting edge book in the history of economic thought and in contemporary economic thought. Mark Blaug's remark about the book, that "Larry White's _Free Banking in Britain_ is one of those books that alter forever one's view of the history of monetary policy, the role of central banks, and indeed the need to regulate banking at all" suggests how a work can contribute at once to our understanding of the history of economic thought and contemporary economic phenomena, i.e. can advance our understanding in a way that alters contemporary economic thinking. Greg Ransom Dept. of Philosophy UC-Riverside [log in to unmask] http://members.gnn.com/logosapien/ransom.htm ============ FOOTER TO HES POSTING ============ For information, send the message "info HES" to [log in to unmask]