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Kunal M. Parker, "The Turn to Process: American Legal, Political, and Economic Thought, 1870-1970" (Cambridge UP, 2023)

New Books in Political Science

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Exploring Veblen and Hayek's Economic Ideas

The chapter analyzes the economic perspectives of Veblen and Hayek, with a focus on their contrasting views on markets and state intervention. It delves into how Hayek believed in markets as superior methods for determining needs, contrasting Veblen's preference for a society of engineers. The discussion extends to the turn to process in the 20th century, shedding light on the decline of hegemonic processes in fields like law and economics.

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