The Trend of Economic Thinking by F. A. Hayek

“The Trend of Economic Thinking” captures Hayek’s views on political economists and economic history—on Mandeville, Hume, Cantillon, Adam Smith, and Henry Thornton. Framed by insightful editorial notes, the book provides a fascinating introduction to the historical context of political economy and the evolution of monetary practices. In a highlight of the collection, “On Being an Economist,” Hayek reflects on the influence of economists, the time required for new ideas to take hold, the best way to educate economic theorists, and the need to follow one’s own interests, often in opposition to fashionable beliefs. As always, the words of this outspoken scholar are sure to provoke debate.