F.A. Hayek
F.A. Hayek was a Nobel laureate economist and one of the most influential thinkers of the 20th century. Hayek was one of the chief architects of what is now called the Austrian School of Economics. Hayek found international fame with the publication of The Road to Serfdom in 1944, an account of how democratic socialism can be subverted to totalitarianism. Hayek was a pioneer in monetary theory and a leading proponent of classical liberalism, the economic system based on the market market and laissez-faire, which is still used by most modern nations. Together with Gunnar Myrdal, they won the 1974 Nobel Memorial Prize in Economic Sciences for their pioneering work in the theory of money and economic fluctuations. Many graduate economics students today are studying his articles from the 1930s and 1940s on economics and knowledge. Even after his death in 1992, economists still study the economic theories and concepts created by Hayek.
F.A. Hayek Professional Experience / Academic History
Professional Experience
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Professor of Social and Moral Science
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Tooke Professor of Economic Science and Statistics
Academic History
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Ph.D., Political Science
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J.D., Law
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B.A., Economics
MORE ABOUT F.A. HAYEK
Hayek made fundamental contributions in political theory, psychology, and economics.
His approach mostly stems from the Austrian School of Economics and emphasizes the limited nature of knowledge.
He also wrote extensively on banking and monetary theory, the socialist calculation debate, and the theory of spontaneous orders.
He taught at the University of Vienna, University of London, University of Chicago, and University of Freiburg.
ECONOMIC CONTRIBUTIONS
Hayek was known for his defense of classical liberalism and free-market capitalism against socialist and collectivist thought.
He was an ardent defender of free-market capitalism, considered by most experts as one of the greatest critics of the socialist consensus.
His theory on how changing prices relay information that helps people determine their economic plans was a stunning milestone achievement in economics.
He developed the idea of an international society of liberal intellectuals "to work out the principles which would secure the preservation of society".
RECOGNITIONS & FELLOWSHIPS