This volume presents much newly published work by Hayek on methodology of economics, its development as a subject, its key thinkers and its important debates. It is published in corrected, revised and annotated form with a long introduction.

'Here is art which conceals art, and intellect which conceals intellect, so that by the end of the book one feels that one understands something one had not understood before. Mr Hall is witty and amusing, but not snide; he has a lightness of touch which allows him to write of extremely serious matters without solemnity; he knows how to convey a great deal in a few words' Sunday Telegraph 'He is an observant and witty writer...you believe implicitly that he has met the people he writes about, and that they said what he quotes them as saying' Sunday Times