Portrait: The economist and philosopher Friedrich August von Hayek

20 February 2019 | Author/Destination: | Rubric: Portrait

Friedrich August von Hayek, 1981 © flickr.com - LSE Library

Friedrich August von Hayek, 1981 © flickr.com – LSE Library

Friedrich August von Hayek (CH FBA), often referred to by his initials F. A. Hayek, was an Austrian economist and philosopher best known for his defense of classical liberalism. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for his “pioneering work in the theory of money and economic fluctuations and […] penetrating analysis of the interdependence of economic, social and institutional phenomena”. Hayek was also a major social theorist and political philosopher of the 20th century and his account of how changing prices communicate information that helps individuals co-ordinate their plans is widely regarded as an important achievement in economics, leading to his Nobel Prize.   read more…

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