Prices and Production and Other Works

Hayek was not only a leading champion of liberty in the 20th century; as this massive book reveals, he was also a great economist whose elaboration on monetary theory and the business cycle made him the leading foe of Keynesian theory and policy in the English-speaking world. 
The theory here is the subject of a massively popular rap video — one that was oddly accurate! However, to truly understand the nuts and bolts, there is no substitute for Hayek's own works. Together they constitute a complete presentation of Hayekian money and business-cycle theory. Even more, they work together as an excellent elucidation of Austrian macroeconomic theory, which is why this book has already been adopted in some classrooms.
The timing could not be better. The entire world economy is now suffering from the effects of bad monetary policy, and with results that Hayek explains in great detail. With "countercyclical" policy again revealed as unworkable, and politicians plotting to make matters worse, the contents of this book have direct bearing on present and future monetary policy.
These seven works taken together represent the first integration and systematic elaboration of the Austrian theories of money, capital, business cycles, and comparative monetary institutions, which constitute the essential core of Austrian macroeconomics.
These works have profoundly influenced postwar expositions of Austrian or capital-based macroeconomics down to the present day. The creation of such an oeuvre is a formidable intellectual feat over an entire lifetime; it is an absolute marvel when we consider that Hayek had completed it in the span of eight years (1929–1937) and still well shy of his fortieth birthday. Hayek's amazingly precocious intellect and creative genius are on full display in these works.