Edited by Philip Booth, Institute of Economic Affairs, London, UK and John Meadowcroft, Lecturer in Public Policy, King’s College London, UK

'This symposium brings together contributions of many of those who wrote for the IEA over the years and had their courage rewarded by gaining the Nobel Prize in economics. . . The writings of authors such as Hayek and Friedman are as relevant today, both to academics and politicians, as they were thirty years ago. The collection of essays brought together in The Road to Economic Freedom will therefore be welcomed as much by students of history as by all interested in understanding the contemporary political debate.'

• ContentsVolume IAcknowledgementsForeword The Rt. Hon. The Baroness ThatcherIntroduction Philip Booth and John MeadowcroftPART IMONETARY POLICY AND PRICE STABILITY 1. Milton Friedman ([1970] 2003), ‘The Counter-Revolution in Monetary Theory’2. H. Geoffrey Brennan and James M. Buchanan (1981), Monopoly in Money and Inflation: The Case for a Constitution to Discipline Government3. F.A. Hayek ([1976] 1990), Denationalisation of Money: The Argument Refined4. F.A. Hayek (1976), Choice in Currency: A Way to Stop Inflation5. F.A. Hayek (1986), ‘Market Standards for Money’6. J.E. Meade (1985), Wage-Fixing Revisited7. James E. Meade (1975), ‘An Effective Social Contract’8. Milton Friedman (1974), Monetary Correction9. Milton Friedman (1974), ‘Inflation, Taxation, Indexation’10. F.A. Hayek (1974), ‘Inflation: The Path to Unemployment’11. Milton Friedman (1986), ‘Keynes’s Political Legacy’PART IIUNEMPLOYMENT 12. F.A. Hayek (1975), Full Employment at Any Price?13. F.A. Hayek (1980), ‘Trade Unions – The Biggest Obstacle’14. F.A. Hayek ([1980] 1984), 1980s Unemployment and the Unions: The Distortion of Relative Prices by Monopoly in the Labour Market15. Milton Friedman ([1975] 2003), ‘Unemployment versus Inflation? An Evaluation of the Phillips Curve’16. Sir John Hicks (1975), ‘The Permissive Economy’17. Milton Friedman (1977), Inflation and Unemployment: The New Dimension of Politics. The 1976 Alfred Nobel Memorial Lecture18. James E. Meade (1971), Wages and Prices in a Mixed EconomyName IndexVolume IIAcknowledgementsAn introduction by the editors to both volumes appears in Volume IPART ITHE ECONOMICS OF GOVERNMENT 1. James M. Buchanan (1978), ‘From Private Preferences to Public Philosophy: The Development of Public Choice’2. James M. Buchanan (1989), ‘Post-Reagan Political Economy’3. James M. Buchanan (1990), ‘Europe’s Constitutional Opportunity’4. F.A. Hayek (1973), Economic Freedom and Representative Government5. F.A. Hayek (1978), ‘Will the Democratic Ideal Prevail?’6. James M. Buchanan and Gordon Tullock (1981), ‘An American Perspective: From “Markets Work” to Public Choice’7. James E. Meade ([1962] 1970), UK, Commonwealth and Common Market: A ReappraisalPART IIGOVERNMENT REGULATION AND THE SIZE OF GOVERNMENT 8. James M. Buchanan (1965), The Inconsistencies of the National Health Service9. Sir John Hicks (1966), ‘After the Boom…: Thoughts on the 1966 Economic Crisis’10. James M. Buchanan and Richard E. Wagner (1978), ‘Democracy and Keynesian Constitutions: Political Biases and Economic Consequences’11. J.M. Buchanan, J. Burton and R.E. Wagner (1978), ‘Constitutional Options for Fiscal Growth’12. George J. Stigler (1982), The Pleasures and Pains of Modern Capitalism13. F.A. Hayek (1972), ‘The Repercussions of Rent Restrictions’14. Milton Friedman and George J. Stigler (1972), ‘Roofs or Ceilings? The Current Housing Problem’15. Douglass C. North (1999), Understanding the Process of Economic ChangePART IIITHE POWER OF LANGUAGE AND IDEAS 16. F.A. Hayek (1968), The Confusion of Language in Political Thought17. Friedrich A. Hayek ([1949] 1998), The Intellectuals and Socialism18. Milton Friedman (1977), From Galbraith to Economic Freedom19. George J. Stigler (1963), The Intellectual and the Market PlacePART IVSOCIALISM 20. F.A. Hayek (1982), ‘Two Pages of Fiction: The Impossibility of Socialist Calculation’Appendix Milton Friedman (2001), ‘The IEA’s Influence on Our Times’Name Index

Edited by Philip Booth, Institute of Economic Affairs, London, UK and John Meadowcroft, Lecturer in Public Policy, King’s College London, UK

'This symposium brings together contributions of many of those who wrote for the IEA over the years and had their courage rewarded by gaining the Nobel Prize in economics. . . The writings of authors such as Hayek and Friedman are as relevant today, both to academics and politicians, as they were thirty years ago. The collection of essays brought together in The Road to Economic Freedom will therefore be welcomed as much by students of history as by all interested in understanding the contemporary political debate.'

• ContentsVolume IAcknowledgementsForeword The Rt. Hon. The Baroness ThatcherIntroduction Philip Booth and John MeadowcroftPART IMONETARY POLICY AND PRICE STABILITY 1. Milton Friedman ([1970] 2003), ‘The Counter-Revolution in Monetary Theory’2. H. Geoffrey Brennan and James M. Buchanan (1981), Monopoly in Money and Inflation: The Case for a Constitution to Discipline Government3. F.A. Hayek ([1976] 1990), Denationalisation of Money: The Argument Refined4. F.A. Hayek (1976), Choice in Currency: A Way to Stop Inflation5. F.A. Hayek (1986), ‘Market Standards for Money’6. J.E. Meade (1985), Wage-Fixing Revisited7. James E. Meade (1975), ‘An Effective Social Contract’8. Milton Friedman (1974), Monetary Correction9. Milton Friedman (1974), ‘Inflation, Taxation, Indexation’10. F.A. Hayek (1974), ‘Inflation: The Path to Unemployment’11. Milton Friedman (1986), ‘Keynes’s Political Legacy’PART IIUNEMPLOYMENT 12. F.A. Hayek (1975), Full Employment at Any Price?13. F.A. Hayek (1980), ‘Trade Unions – The Biggest Obstacle’14. F.A. Hayek ([1980] 1984), 1980s Unemployment and the Unions: The Distortion of Relative Prices by Monopoly in the Labour Market15. Milton Friedman ([1975] 2003), ‘Unemployment versus Inflation? An Evaluation of the Phillips Curve’16. Sir John Hicks (1975), ‘The Permissive Economy’17. Milton Friedman (1977), Inflation and Unemployment: The New Dimension of Politics. The 1976 Alfred Nobel Memorial Lecture18. James E. Meade (1971), Wages and Prices in a Mixed EconomyName IndexVolume IIAcknowledgementsAn introduction by the editors to both volumes appears in Volume IPART ITHE ECONOMICS OF GOVERNMENT 1. James M. Buchanan (1978), ‘From Private Preferences to Public Philosophy: The Development of Public Choice’2. James M. Buchanan (1989), ‘Post-Reagan Political Economy’3. James M. Buchanan (1990), ‘Europe’s Constitutional Opportunity’4. F.A. Hayek (1973), Economic Freedom and Representative Government5. F.A. Hayek (1978), ‘Will the Democratic Ideal Prevail?’6. James M. Buchanan and Gordon Tullock (1981), ‘An American Perspective: From “Markets Work” to Public Choice’7. James E. Meade ([1962] 1970), UK, Commonwealth and Common Market: A ReappraisalPART IIGOVERNMENT REGULATION AND THE SIZE OF GOVERNMENT 8. James M. Buchanan (1965), The Inconsistencies of the National Health Service9. Sir John Hicks (1966), ‘After the Boom…: Thoughts on the 1966 Economic Crisis’10. James M. Buchanan and Richard E. Wagner (1978), ‘Democracy and Keynesian Constitutions: Political Biases and Economic Consequences’11. J.M. Buchanan, J. Burton and R.E. Wagner (1978), ‘Constitutional Options for Fiscal Growth’12. George J. Stigler (1982), The Pleasures and Pains of Modern Capitalism13. F.A. Hayek (1972), ‘The Repercussions of Rent Restrictions’14. Milton Friedman and George J. Stigler (1972), ‘Roofs or Ceilings? The Current Housing Problem’15. Douglass C. North (1999), Understanding the Process of Economic ChangePART IIITHE POWER OF LANGUAGE AND IDEAS 16. F.A. Hayek (1968), The Confusion of Language in Political Thought17. Friedrich A. Hayek ([1949] 1998), The Intellectuals and Socialism18. Milton Friedman (1977), From Galbraith to Economic Freedom19. George J. Stigler (1963), The Intellectual and the Market PlacePART IVSOCIALISM 20. F.A. Hayek (1982), ‘Two Pages of Fiction: The Impossibility of Socialist Calculation’Appendix Milton Friedman (2001), ‘The IEA’s Influence on Our Times’Name Index

Edited by Philip Booth, Institute of Economic Affairs, London, UK and John Meadowcroft, Lecturer in Public Policy, King’s College London, UK

'This symposium brings together contributions of many of those who wrote for the IEA over the years and had their courage rewarded by gaining the Nobel Prize in economics. . . The writings of authors such as Hayek and Friedman are as relevant today, both to academics and politicians, as they were thirty years ago. The collection of essays brought together in The Road to Economic Freedom will therefore be welcomed as much by students of history as by all interested in understanding the contemporary political debate.'

• ContentsVolume IAcknowledgementsForeword The Rt. Hon. The Baroness ThatcherIntroduction Philip Booth and John MeadowcroftPART IMONETARY POLICY AND PRICE STABILITY 1. Milton Friedman ([1970] 2003), ‘The Counter-Revolution in Monetary Theory’2. H. Geoffrey Brennan and James M. Buchanan (1981), Monopoly in Money and Inflation: The Case for a Constitution to Discipline Government3. F.A. Hayek ([1976] 1990), Denationalisation of Money: The Argument Refined4. F.A. Hayek (1976), Choice in Currency: A Way to Stop Inflation5. F.A. Hayek (1986), ‘Market Standards for Money’6. J.E. Meade (1985), Wage-Fixing Revisited7. James E. Meade (1975), ‘An Effective Social Contract’8. Milton Friedman (1974), Monetary Correction9. Milton Friedman (1974), ‘Inflation, Taxation, Indexation’10. F.A. Hayek (1974), ‘Inflation: The Path to Unemployment’11. Milton Friedman (1986), ‘Keynes’s Political Legacy’PART IIUNEMPLOYMENT 12. F.A. Hayek (1975), Full Employment at Any Price?13. F.A. Hayek (1980), ‘Trade Unions – The Biggest Obstacle’14. F.A. Hayek ([1980] 1984), 1980s Unemployment and the Unions: The Distortion of Relative Prices by Monopoly in the Labour Market15. Milton Friedman ([1975] 2003), ‘Unemployment versus Inflation? An Evaluation of the Phillips Curve’16. Sir John Hicks (1975), ‘The Permissive Economy’17. Milton Friedman (1977), Inflation and Unemployment: The New Dimension of Politics. The 1976 Alfred Nobel Memorial Lecture18. James E. Meade (1971), Wages and Prices in a Mixed EconomyName IndexVolume IIAcknowledgementsAn introduction by the editors to both volumes appears in Volume IPART ITHE ECONOMICS OF GOVERNMENT 1. James M. Buchanan (1978), ‘From Private Preferences to Public Philosophy: The Development of Public Choice’2. James M. Buchanan (1989), ‘Post-Reagan Political Economy’3. James M. Buchanan (1990), ‘Europe’s Constitutional Opportunity’4. F.A. Hayek (1973), Economic Freedom and Representative Government5. F.A. Hayek (1978), ‘Will the Democratic Ideal Prevail?’6. James M. Buchanan and Gordon Tullock (1981), ‘An American Perspective: From “Markets Work” to Public Choice’7. James E. Meade ([1962] 1970), UK, Commonwealth and Common Market: A ReappraisalPART IIGOVERNMENT REGULATION AND THE SIZE OF GOVERNMENT 8. James M. Buchanan (1965), The Inconsistencies of the National Health Service9. Sir John Hicks (1966), ‘After the Boom…: Thoughts on the 1966 Economic Crisis’10. James M. Buchanan and Richard E. Wagner (1978), ‘Democracy and Keynesian Constitutions: Political Biases and Economic Consequences’11. J.M. Buchanan, J. Burton and R.E. Wagner (1978), ‘Constitutional Options for Fiscal Growth’12. George J. Stigler (1982), The Pleasures and Pains of Modern Capitalism13. F.A. Hayek (1972), ‘The Repercussions of Rent Restrictions’14. Milton Friedman and George J. Stigler (1972), ‘Roofs or Ceilings? The Current Housing Problem’15. Douglass C. North (1999), Understanding the Process of Economic ChangePART IIITHE POWER OF LANGUAGE AND IDEAS 16. F.A. Hayek (1968), The Confusion of Language in Political Thought17. Friedrich A. Hayek ([1949] 1998), The Intellectuals and Socialism18. Milton Friedman (1977), From Galbraith to Economic Freedom19. George J. Stigler (1963), The Intellectual and the Market PlacePART IVSOCIALISM 20. F.A. Hayek (1982), ‘Two Pages of Fiction: The Impossibility of Socialist Calculation’Appendix Milton Friedman (2001), ‘The IEA’s Influence on Our Times’Name Index