Lawrence H. White is Professor of Economics at George Mason University, Fairfax, Virginia. He previously taught at New York University, the University of Georgia and the University of Missouri, St Louis. Best known for his work on monetary thought and alternative monetary institutions, his books include Free Banking in Britain, 2nd edition (2009), The Theory of Monetary Institutions (1999) and Competition and Currency (1992) and he has edited six other volumes primarily in finance and financial history. His writing has appeared in The Wall Street Journal and in leading economics journals such as the American Economic Review and the Journal of Economic Literature. Professor White is featured in three online videos discussing the business cycle theory of F. A. Hayek, produced by [...] in connection with their popular Keynes vs. Hayek rap video 'Fear the Boom and Bust'. He is co-editor of the online journal Econ Journal Watch and hosts the bimonthly Econ Journal Watch Audio podcasts. Professor White received the 2008 Distinguished Scholar Award of the Association for Private Enterprise Education. He holds a Ph.D. in economics from the University of California, Los Angeles.

Introduction; 1. The turn away from laissez faire; 2. The Bolshevik revolution and the socialist calculation debate; 3. The Roaring Twenties and Austrian business cycle theory; 4. The New Deal and institutionalist economics; 5. The Great Depression and Keynes's General Theory; 6. The Second World War and Hayek's Road to Serfdom; 7. Postwar British Socialism and the Fabian Society; 8. The Mont Pelerin Society and the rebirth of Smithian economics; 9. The postwar German 'wonder economy' and ordoliberalism; 10. Indian planning and development economics; 11. Bretton Woods and international monetary thought; 12. The great inflation and monetarism; 13. The growth of government: public goods and public choice; 14. Free trade, protectionism, and trade deficits; 15. From pleasant deficit spending to unpleasant sovereign debt crisis.