Prices and Production

Interesting Facts

• The book is one of Friedrich von Hayek's key works, where he develops the theory of economic cycles and analyzes the impact of price changes on production.
• In his work, Hayek focuses on the role of capital and production structure in the economy, which became the foundation for his further research in economic theory.
• The book is based on lectures Hayek delivered at the London School of Economics, and it played an important role in his academic career, solidifying his reputation as a leading economist of his time.
• Hayek criticizes Keynesian economics, arguing that government intervention in the economy can lead to distortions in the production structure and cause economic imbalances.
• The work significantly influenced the development of the Austrian School of Economics and became an important contribution to discussions on the nature and causes of economic cycles.