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Continuous Improvement By Improving Continuously (CIBIC): Addressing the Human Factors During the Pursuit of Process Excellence
by F. Allen DavisAlthough many businesses, organizations, and institutions have currently implemented continuous improvement initiatives that address wants, needs, and challenges at the process and systems level, very few have effectively considered and addressed human factors. Thus, even businesses, organizations, and institutions with the most finely crafted continuous improvement systems face failure from inadequate human factors continuous improvement. Continuous Improvement by Improving Continuously (CIBIC): Addressing the Human Factors During the Pursuit of Process Excellence explains how the frustrating reoccurrence of operating failures are the result of flawed or fragmented business philosophies and principles. CIBIC is designed to promote the pursuit of excellence from mediocrity using an adaptable strategic model that promotes the pursuit of continuous improvement and sustainability in operations, performance management, and personal endeavors. By transforming the pursuit of excellence from a hit-and-miss endeavor to an easily achievable and sustainable continuous endeavor, CIBIC creates value where other systems fail. By addressing gaps, disconnects, and chaotic realities at a fundamental level through the sustained use of frameworks, methods, and analytics, CIBIC promotes the pursuit of excellence across the wide range continuum, eradicating the value and philosophical disconnects that generally plague individuals and collective interests. This book addresses this systemic problem by highlighting an incredibly comprehensive system that promotes continuous improvement and the pursuit of excellence. By highlighting key inner drivers, essential outer qualities, and supporting models and frameworks, the book makes the pursuit of excellence an easily sustainable and logical endeavor.
Continuous Improvement in Higher Education: How to Begin Your Institution’s Lean Journey
by Bonnie SlykhuisIs your college or university struggling with how to adapt to budget cuts, changing student needs, technology, or regulatory changes? Do you have a program or staff assigned to help coordinate change efforts? Are you ready to become more proactive in how you react to the changes that affect your institution? Structured continuous process-improvement programs have benefitted manufacturing companies for decades, but what works in manufacturing does not work the same way in education! This book, written by a higher education Lean practitioner using real examples from higher education, shows you how to create a continuous-improvement program specifically for higher education It walks you through the key steps for building your first-year continuous-improvement plan. It provides templates, checklists, and best practices to assist in your planning process. Whether you are a Lean novice or a current Lean/continuous-improvement practitioner, this book will add tools to your tool kit and lay the groundwork for successful change initiatives.
Continuous Improvement in Higher Education: How to Begin Your Institution’s Lean Journey
by Bonnie SlykhuisIs your college or university struggling with how to adapt to budget cuts, changing student needs, technology, or regulatory changes? Do you have a program or staff assigned to help coordinate change efforts? Are you ready to become more proactive in how you react to the changes that affect your institution? Structured continuous process-improvement programs have benefitted manufacturing companies for decades, but what works in manufacturing does not work the same way in education! This book, written by a higher education Lean practitioner using real examples from higher education, shows you how to create a continuous-improvement program specifically for higher education It walks you through the key steps for building your first-year continuous-improvement plan. It provides templates, checklists, and best practices to assist in your planning process. Whether you are a Lean novice or a current Lean/continuous-improvement practitioner, this book will add tools to your tool kit and lay the groundwork for successful change initiatives.
Continuous Improvement in Organizations
by José Dinis CarvalhoThis book presents what you need to know to really implement continuous improvement in companies or other organizations. In addition to all the support needed for this to make sense, the importance of the right direction to guide it is unveiled. The reader will find in this book the origins of continuous improvement and all the framing that justifies and demystifies it in the aspects that characterize the socio-technical nature of organizations. This work also explores the need for effective coexistence between technical aspects and behavioral and cultural aspects, so that continuous improvement and excellence are achieved in organizations. Topics discussed in the book include: The origins of continuous improvement The main operational excellence models The invisible side of organizations The visible side of organizations Decoding continuous improvement The maturity levels of continuous improvement Some models and tips for the implementation of continuous improvement Main tools associated to excellence in organizations This book was written with the aim of helping engineering students in courses related to operations management to develop skills in this area, as well as businessmen with curiosity about this subject, production directors, people responsible for continuous improvement and all professionals working in companies or other organizations with responsibility for their performance and their future.
Continuous Improvement in Organizations
by José Dinis CarvalhoThis book presents what you need to know to really implement continuous improvement in companies or other organizations. In addition to all the support needed for this to make sense, the importance of the right direction to guide it is unveiled. The reader will find in this book the origins of continuous improvement and all the framing that justifies and demystifies it in the aspects that characterize the socio-technical nature of organizations. This work also explores the need for effective coexistence between technical aspects and behavioral and cultural aspects, so that continuous improvement and excellence are achieved in organizations. Topics discussed in the book include: The origins of continuous improvement The main operational excellence models The invisible side of organizations The visible side of organizations Decoding continuous improvement The maturity levels of continuous improvement Some models and tips for the implementation of continuous improvement Main tools associated to excellence in organizations This book was written with the aim of helping engineering students in courses related to operations management to develop skills in this area, as well as businessmen with curiosity about this subject, production directors, people responsible for continuous improvement and all professionals working in companies or other organizations with responsibility for their performance and their future.
Continuous Improvement Practice in Local Government: Insights from Australia and New Zealand (Routledge Focus on Business and Management)
by Matthew Pepper Oriana Milani Price Arun EliasLocal government plays a critical role in the provision of governance, infrastructure, and services for local communities. Over the past 30 years this sector has undergone significant reforms because of various superordinate governments policy changes. Continuous improvement and quality programs have been a common tactical response undertaken by various local government organisations to remain sustainable and to continue to deliver value to their local communities. These tactical responses have had varying levels of success. This book seeks to go beyond a tactical focus and uncover the kinds of continuous improvement practices that are enacted in various local government contexts. A focus on practices enables practitioners and researchers alike to gain insights that to go beyond approaches which privilege the application of CI tools over the contextualisation of CI programs. Contextualisation affords the insightful deployment of programs that are specific to the needs and dynamics of local communities and operations. The cases presented share insights on aspects of CI including: embedding performance measurement; harnessing learning; contextualising CI activities to support the ongoing sustainability of these practices. Researchers and practitioners alike can draw benefit from the grounded industry base experiences and insights shared in the book.
Continuous Improvement Practice in Local Government: Insights from Australia and New Zealand (Routledge Focus on Business and Management)
by Matthew Pepper Oriana Milani Price Arun EliasLocal government plays a critical role in the provision of governance, infrastructure, and services for local communities. Over the past 30 years this sector has undergone significant reforms because of various superordinate governments policy changes. Continuous improvement and quality programs have been a common tactical response undertaken by various local government organisations to remain sustainable and to continue to deliver value to their local communities. These tactical responses have had varying levels of success. This book seeks to go beyond a tactical focus and uncover the kinds of continuous improvement practices that are enacted in various local government contexts. A focus on practices enables practitioners and researchers alike to gain insights that to go beyond approaches which privilege the application of CI tools over the contextualisation of CI programs. Contextualisation affords the insightful deployment of programs that are specific to the needs and dynamics of local communities and operations. The cases presented share insights on aspects of CI including: embedding performance measurement; harnessing learning; contextualising CI activities to support the ongoing sustainability of these practices. Researchers and practitioners alike can draw benefit from the grounded industry base experiences and insights shared in the book.
Continuous Improvement, Probability, and Statistics: Using Creative Hands-On Techniques (Continuous Improvement Series)
by William HooperWhat happens when the sport of Juggling meets a Statistical Process Control class? This book shows a creative approach to teaching data analysis for continuous improvement. Using step by step instructions, including over 65 photos and 40 graphs, traditional continuous improvement topics (design of experiments, reliability functions, and probability) are demonstrated using card illusions and hands-on activities. This book is for anyone that teaches these topics and wants to make them more understandable and sometimes even fun. Every operator, technician, student, manager, and leader can learn data analysis and be inspired to join the next generation of continuous improvement professionals.
Continuous Improvement, Probability, and Statistics: Using Creative Hands-On Techniques (Continuous Improvement Series)
by William HooperWhat happens when the sport of Juggling meets a Statistical Process Control class? This book shows a creative approach to teaching data analysis for continuous improvement. Using step by step instructions, including over 65 photos and 40 graphs, traditional continuous improvement topics (design of experiments, reliability functions, and probability) are demonstrated using card illusions and hands-on activities. This book is for anyone that teaches these topics and wants to make them more understandable and sometimes even fun. Every operator, technician, student, manager, and leader can learn data analysis and be inspired to join the next generation of continuous improvement professionals.
Continuous Improvement Strategies: How to Manage, Motivate, and Retain Staff
by Anthony Matthew HopperDuring this era of continuous improvement, healthcare organizations need to be staffed by engaged, motivated, and hard-working frontline employees. As these clinical and non-clinical personnel handle most of the important tasks in any organization and are often the people who directly interact with patients and customers, it's the job of managers to oversee and motivate their staff members. Using Lean management strategies, this easy-to-read book for leaders and managers provides useful, insightful, and innovative information to help managers engage, motivate, and retain their employees during any Lean or other continuous improvement initiative.
Continuous Improvement Strategies: How to Manage, Motivate, and Retain Staff
by Anthony Matthew HopperDuring this era of continuous improvement, healthcare organizations need to be staffed by engaged, motivated, and hard-working frontline employees. As these clinical and non-clinical personnel handle most of the important tasks in any organization and are often the people who directly interact with patients and customers, it's the job of managers to oversee and motivate their staff members. Using Lean management strategies, this easy-to-read book for leaders and managers provides useful, insightful, and innovative information to help managers engage, motivate, and retain their employees during any Lean or other continuous improvement initiative.
Continuous Improvement Strategies: Japanese Convenience Store Systems (Palgrave Macmillan Asian Business Series)
by D. MarutschkeThis book discusses continuous improvement strategies of Japanese convenience store operators. The study highlights the efforts of companies operating under lean management systems to identify new, dynamic, firm-specific capabilities in highly competitive markets.
Continuous Innovation with DevOps: IT Management in the Age of Digitalization and Software-defined Business (SpringerBriefs in Information Systems)
by Rainer Alt Gunnar Auth Christoph KöglerThis book connects the new world of digitalization with classic IT management. With the presence of software in objects, products and processes, most businesses will become software-defined businesses. Software development and software management are thus key to stay competitive in an environment that demands continuous innovation. The authors provide a comprehensive introduction to continuous innovation, the DevOps concept and lay the foundations of an innovation-oriented IT management. The DevOps approach to continuous innovation, which combines lean and agile concepts with an automated tool chain, enables solutions that synergize fast (re)action through digital innovation on the one hand and long-term development cycles and stable operation on the other. A comprehensive case study of T-Systems MMS, a digital service provider from Deutsche Telekom in Germany, illustrates the use of this approach in practice.
Continuous Optimization: Current Trends and Modern Applications (Applied Optimization #99)
by V. Jeyakumar Alexander M. RubinovContinuous optimization is the study of problems in which we wish to opti mize (either maximize or minimize) a continuous function (usually of several variables) often subject to a collection of restrictions on these variables. It has its foundation in the development of calculus by Newton and Leibniz in the 17*^ century. Nowadys, continuous optimization problems are widespread in the mathematical modelling of real world systems for a very broad range of applications. Solution methods for large multivariable constrained continuous optimiza tion problems using computers began with the work of Dantzig in the late 1940s on the simplex method for linear programming problems. Recent re search in continuous optimization has produced a variety of theoretical devel opments, solution methods and new areas of applications. It is impossible to give a full account of the current trends and modern applications of contin uous optimization. It is our intention to present a number of topics in order to show the spectrum of current research activities and the development of numerical methods and applications.
Continuous Software Engineering
by Jan BoschThis book provides essential insights on the adoption of modern software engineering practices at large companies producing software-intensive systems, where hundreds or even thousands of engineers collaborate to deliver on new systems and new versions of already deployed ones. It is based on the findings collected and lessons learned at the Software Center (SC), a unique collaboration between research and industry, with Chalmers University of Technology, Gothenburg University and Malmö University as academic partners and Ericsson, AB Volvo, Volvo Car Corporation, Saab Electronic Defense Systems, Grundfos, Axis Communications, Jeppesen (Boeing) and Sony Mobile as industrial partners.The 17 chapters present the “Stairway to Heaven” model, which represents the typical evolution path companies move through as they develop and mature their software engineering capabilities. The chapters describe theoretical frameworks, conceptual models and, most importantly, the industrial experiences gained by the partner companies in applying novel software engineering techniques. The book’s structure consists of six parts. Part I describes the model in detail and presents an overview of lessons learned in the collaboration between industry and academia. Part II deals with the first step of the Stairway to Heaven, in which R&D adopts agile work practices. Part III of the book combines the next two phases, i.e., continuous integration (CI) and continuous delivery (CD), as they are closely intertwined. Part IV is concerned with the highest level, referred to as “R&D as an innovation system,” while Part V addresses a topic that is separate from the Stairway to Heaven and yet critically important in large organizations: organizational performance metrics that capture data, and visualizations of the status of software assets, defects and teams. Lastly, Part VI presents the perspectives of two of the SC partner companies.The book is intended for practitioners and professionals in the software-intensive systems industry, providing concrete models, frameworks and case studies that show the specific challenges that the partner companies encountered, their approaches to overcoming them, and the results. Researchers will gain valuable insights on the problems faced by large software companies, and on how to effectively tackle them in the context of successful cooperation projects.
Continuous-Time Asset Pricing Theory: A Martingale-Based Approach (Springer Finance)
by Robert A. JarrowAsset pricing theory yields deep insights into crucial market phenomena such as stock market bubbles. Now in a newly revised and updated edition, this textbook guides the reader through this theory and its applications to markets. The new edition features new results on state dependent preferences, a characterization of market efficiency and a more general presentation of multiple-factor models using only the assumptions of no arbitrage and no dominance. Taking an innovative approach based on martingales, the book presents advanced techniques of mathematical finance in a business and economics context, covering a range of relevant topics such as derivatives pricing and hedging, systematic risk, portfolio optimization, market efficiency, and equilibrium pricing models. For applications to high dimensional statistics and machine learning, new multi-factor models are given. This new edition integrates suicide trading strategies into the understanding of asset price bubbles, greatly enriching the overall presentation and further strengthening the book’s underlying theme of economic bubbles. Written by a leading expert in risk management, Continuous-Time Asset Pricing Theory is the first textbook on asset pricing theory with a martingale approach. Based on the author’s extensive teaching and research experience on the topic, it is particularly well suited for graduate students in business and economics with a strong mathematical background.
Continuous-Time Econometrics: Theory and applications (International Studies in Economic Modelling)
by G. GandolfoContinuous-time econometrics is no longer an esoteric subject although most still regard it as such, so much so that it is hardly mentioned in standard textbooks on econometrics. Thanks to the work done in the last 20 years, both the theoretical and the applied side are by now well developed. Methods of estimation have been theoretically elaborated and practically implemented through computer programs. Continuous-time macroeconometric models for different countries have been constructed, estimated and used. Being myself involved in these developments, it was with great pleasure that I accepted the invitation to organize a session on continuous-time econometrics in the context of the International Symposium on Economic Modelling (jointly organized by the University of Urbino and the book series International Studies in Economic Modelling, and co-sponsored by the Consiglio Nazionale delle Ricerche). The reaction of 'continuists' from all over the world was so enthusiastic that I was able to arrange two sessions, one on the theory and the other on the applications. The symposium was held in Urbino on 23-25 July 1990. The papers presented in Urbino have been revised in the light of the discussion at the symposium and the referees' comments. Hence, what is published here should become another standard reference in the field of continuous-time econometrics.
Continuous-Time Markov Chains and Applications: A Two-Time-Scale Approach (Stochastic Modelling and Applied Probability #37)
by G. George Yin Qing ZhangThis book gives a systematic treatment of singularly perturbed systems that naturally arise in control and optimization, queueing networks, manufacturing systems, and financial engineering. It presents results on asymptotic expansions of solutions of Komogorov forward and backward equations, properties of functional occupation measures, exponential upper bounds, and functional limit results for Markov chains with weak and strong interactions. To bridge the gap between theory and applications, a large portion of the book is devoted to applications in controlled dynamic systems, production planning, and numerical methods for controlled Markovian systems with large-scale and complex structures in the real-world problems. This second edition has been updated throughout and includes two new chapters on asymptotic expansions of solutions for backward equations and hybrid LQG problems. The chapters on analytic and probabilistic properties of two-time-scale Markov chains have been almost completely rewritten and the notation has been streamlined and simplified. This book is written for applied mathematicians, engineers, operations researchers, and applied scientists. Selected material from the book can also be used for a one semester advanced graduate-level course in applied probability and stochastic processes.
Continuous-Time Markov Decision Processes: Theory and Applications (Stochastic Modelling and Applied Probability #62)
by Xianping Guo Onésimo Hernández-LermaContinuous-time Markov decision processes (MDPs), also known as controlled Markov chains, are used for modeling decision-making problems that arise in operations research (for instance, inventory, manufacturing, and queueing systems), computer science, communications engineering, control of populations (such as fisheries and epidemics), and management science, among many other fields. This volume provides a unified, systematic, self-contained presentation of recent developments on the theory and applications of continuous-time MDPs. The MDPs in this volume include most of the cases that arise in applications, because they allow unbounded transition and reward/cost rates. Much of the material appears for the first time in book form.
Continuous-Time Models in Corporate Finance, Banking, and Insurance: A User's Guide
by Santiago Moreno-Bromberg Jean-Charles RochetContinuous-Time Models in Corporate Finance synthesizes four decades of research to show how stochastic calculus can be used in corporate finance. Combining mathematical rigor with economic intuition, Santiago Moreno-Bromberg and Jean-Charles Rochet analyze corporate decisions such as dividend distribution, the issuance of securities, and capital structure and default. They pay particular attention to financial intermediaries, including banks and insurance companies.The authors begin by recalling the ways that option-pricing techniques can be employed for the pricing of corporate debt and equity. They then present the dynamic model of the trade-off between taxes and bankruptcy costs and derive implications for optimal capital structure. The core chapter introduces the workhorse liquidity-management model—where liquidity and risk management decisions are made in order to minimize the costs of external finance. This model is used to study corporate finance decisions and specific features of banks and insurance companies. The book concludes by presenting the dynamic agency model, where financial frictions stem from the lack of interest alignment between a firm's manager and its financiers. The appendix contains an overview of the main mathematical tools used throughout the book.Requiring some familiarity with stochastic calculus methods, Continuous-Time Models in Corporate Finance will be useful for students, researchers, and professionals who want to develop dynamic models of firms' financial decisions.
Continuous Time Processes for Finance: Switching, Self-exciting, Fractional and other Recent Dynamics (Bocconi & Springer Series #12)
by Donatien HainautThis book explores recent topics in quantitative finance with an emphasis on applications and calibration to time-series. This last aspect is often neglected in the existing mathematical finance literature while it is crucial for risk management. The first part of this book focuses on switching regime processes that allow to model economic cycles in financial markets. After a presentation of their mathematical features and applications to stocks and interest rates, the estimation with the Hamilton filter and Markov Chain Monte-Carlo algorithm (MCMC) is detailed. A second part focuses on self-excited processes for modeling the clustering of shocks in financial markets. These processes recently receive a lot of attention from researchers and we focus here on its econometric estimation and its simulation. A chapter is dedicated to estimation of stochastic volatility models. Two chapters are dedicated to the fractional Brownian motion and Gaussian fields. After a summary of their features, we present applications for stock and interest rate modeling. Two chapters focuses on sub-diffusions that allows to replicate illiquidity in financial markets. This book targets undergraduate students who have followed a first course of stochastic finance and practitioners as quantitative analyst or actuaries working in risk management.
The Continuum of Consumer Choice (Routledge Studies in Marketing)
by Gordon R. FoxallHuman consumption is multi- faceted and so requires inter- disciplinary exploration in order to explain a spectrum of experiences that is at once particular and allpervading. Consumer choice is a microcosm of human activity which transcends the purview of the archetypal marketing or consumer psychology textbook. Its perspective is that of social science itself. This book understands the study of consumer choice as a paradigm of human socio- economic activity and seeks further understanding of its socio- economic and philosophical bases.The Continuum of Consumer Choice provides a novel view of consumer choice based on the temporal horizon of the consumer, giving rise to a spectrum of consumption styles from the everyday to the extreme. The focus is on explaining this continuum in behavioral, cognitive, and neurophysiological terms, affording the reader a unique perspective on the intellectual basis of consumer psychology and marketing. The reader gains insight into a critical combination of economic psychology, neurophysiology, and philosophy, which contributes to establishing marketing and consumer research as scholarly academic pursuits. The book’s particular focus is the proper place and form of an intentional (cognitive and perceptual) explanation of consumer choice.This is an essential monograph for advanced students in consumer psychology and marketing as well as for researchers in these areas. It is particularly relevant to marketing and consumer theory, providing appreciation of their scholarly foundations. It also appeals to students, lecturers, and researchers in social science generally who are alert to the intellectual potential of consumer psychology and marketing as contributors to a full understanding of human behavior and experience.
The Continuum of Consumer Choice (Routledge Studies in Marketing)
by Gordon R. FoxallHuman consumption is multi- faceted and so requires inter- disciplinary exploration in order to explain a spectrum of experiences that is at once particular and allpervading. Consumer choice is a microcosm of human activity which transcends the purview of the archetypal marketing or consumer psychology textbook. Its perspective is that of social science itself. This book understands the study of consumer choice as a paradigm of human socio- economic activity and seeks further understanding of its socio- economic and philosophical bases.The Continuum of Consumer Choice provides a novel view of consumer choice based on the temporal horizon of the consumer, giving rise to a spectrum of consumption styles from the everyday to the extreme. The focus is on explaining this continuum in behavioral, cognitive, and neurophysiological terms, affording the reader a unique perspective on the intellectual basis of consumer psychology and marketing. The reader gains insight into a critical combination of economic psychology, neurophysiology, and philosophy, which contributes to establishing marketing and consumer research as scholarly academic pursuits. The book’s particular focus is the proper place and form of an intentional (cognitive and perceptual) explanation of consumer choice.This is an essential monograph for advanced students in consumer psychology and marketing as well as for researchers in these areas. It is particularly relevant to marketing and consumer theory, providing appreciation of their scholarly foundations. It also appeals to students, lecturers, and researchers in social science generally who are alert to the intellectual potential of consumer psychology and marketing as contributors to a full understanding of human behavior and experience.
Contouring Human Development: Methods and Applications Using an Indian District as Case Study
by Mukunda Mishra Soumendu ChatterjeeThis book acquaints readers with a range of techniques to help them effectively identify, record, map, analyze and report on patterns in various dimensions of human development (HD) with spatial scales down to the village level. It is impossible to capture HD at the local and global scale with only a single index, because differences in HD at the international scale are caused by ‘general’ factors, whereas local-scale differences are influenced by ‘specific’ factors. This book offers a variety of methods for scientifically mapping HD at any spatial scale. It covers how to rationally select variables; how to test the models; how to validate the results, and how to analyze them. For this purpose, it employs a case study on an Indian district. The socio-economic factors regulating the patterns of HD are now more complex than they were only a few decades ago, making it essential to incorporate newer models in order to successfully ‘replicate’ the real-world situation. Accordingly, the book offers essential methodological tools & techniques for mapping HD. It sheds new light on a handful of statistical multivariate analysis and machine learning algorithms that are rarely used in the social sciences when dealing with HD, yet have sound mathematical and statistical bases. These techniques can be successfully used for predictive analysis in the earth & natural sciences, decision sciences and management disciplines, and are equally effective in terms of capturing, predicting and projecting the composite HD ‘landscape.’ This book will especially benefit two groups of readers: firstly, HD practitioners who want to find out ‘why some areas are doing better than others’ by exploring the complex interactions of spatially linked variables with different HD parameters. And secondly, practitioners in other branches of the social sciences who are not concerned with HD but are looking for ‘hands-on training’ with techniques they can apply in their respective field of spatial investigations.
Contra Keynes and Cambridge: Essays, Correspondence (The Collected Works of F. A. Hayek #9)
by F. A. HayekIn 1931, when the young F. A. Hayek challenged the economic theories of John Maynard Keynes, sixteen years his senior, and one of the world's leading economists, he sparked a spirited debate that would influence economic policy in democratic countries for decades. Their extensive exchange lasted until Keynes's death in 1946, and is reprinted in its entirety in this latest volume of The Collected Works of F. A. Hayek. When the journal Economica published a review of Keynes's Treatise on Money by Hayek in 1931, Keynes's response consisted principlally of an attack on Hayek's own work on monetary theory, Prices and Production. Conducted almost entirely in economics journals, the battle that followed revealed two very different responses to a world in economic crisis. Keynes sought a revision of the liberal political order—arguing for greater government intervention in the hope of protecting against the painful fluctuations of the business cycle. Hayek instead warned that state involvement would cause irreparable damage to the economy. This volume begins with Hayek's 1963 reminiscence "The Economics of the 1930s as Seen from London," which has never been published before. The articles, letters, and reviews from journals published in the 1930s are followed by Hayek's later reflections on Keynes's work and influence. The Introduction by Bruce Caldwell puts the debate in context, providing detailed information about the economists in Keynes's circle at Cambridge, their role in the acceptance of his ideas, and the ways in which theory affected policy during the interwar period. Caldwell calls the debate between Hayek and Keynes "a battle for the minds of the rising generation of British-trained economists." There is no doubt that Keynes won the battle during his lifetime. Now, when many of Hayek's ideas have been vindicated by the collapse of collectivist economies and the revival of the free market around the world, this book clarifies Hayek's work on monetary theory—formed in heated opposition to Keynes—and illuminates his efforts to fight protectionism in an age of economic crisis. F. A. Hayek (1899-1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and the principal proponent of classical liberal thought in the twentieth century. He taught at the University of London, the University of Chicago, and the University of Freiburg.