We now look at some of the real world events which shaped classical economics, including the Poor Laws, the Corn Laws, the Irish famine, and the debates over monetary policy in this era.  This unit is both economic history and a contextual look at the history of economic thought.

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In this weeks podcast, Professor Tyler Cowen leads you on an essay-by-essay discussion of Friedrich Hayek¹s essential economics text, Individualism and Economic Order. Why is the use of knowledge in society so important? Did Hayek predict the European Union far before its time? How did Hayek respond to the Keynesian argument against the gold standard? And, which of Hayek's essays did Professor Cowen enjoy the most?

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