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Encyclopedia > Friedrich von Hayek
Friedrich von Hayek
Friedrich von Hayek

Friedrich August von Hayek (May 8, 1899 in ViennaMarch 23, 1992 in Freiburg) was an economist and social scientist of the Austrian School, noted for his defense of liberal democracy and free-market capitalism against a rising tide of socialist and collectivist thought in the mid-20th century. He also made important contributions to the fields of jurisprudence and cognitive science. He shared the 1974 Nobel Memorial Prize in Economics with ideological rival Gunnar Myrdal. Image available for free publishing from the Volkswirtschaftliches Institut, Universität Freiburg, Freiburg im Breisgau, Germany File links The following pages link to this file: Friedrich Hayek ... Image available for free publishing from the Volkswirtschaftliches Institut, Universität Freiburg, Freiburg im Breisgau, Germany File links The following pages link to this file: Friedrich Hayek ... May 8 is the 128th day of the year in the Gregorian Calendar (129th in leap years). ... 1899 was a common year starting on Sunday (see link for calendar). ... Vienna (German: Wien [viːn]; Hungarian: Bécs) is the capital of Austria, and also one of Austrias nine federal states (Bundesland Wien). ... March 23 is the 82nd day of the year in the Gregorian Calendar (83rd in Leap years). ... 1992 is a leap year starting on Wednesday of the Gregorian calendar. ... Freiburg city from Schlossberg Freiburg im Breisgau is a city in Baden-Württemberg, Germany, in the Breisgau region, on the western edge of the southern Black Forest (German: Schwarzwald) with about 200,000 inhabitants. ... U.S. Economic Calendar Economics at the Open Directory Project Economics textbooks on Wikibooks The Economists Economics A-Z Institutions and organizations Bureau of Labor Statistics - from the American Labor Department Center for Economic and Policy Research (USA) National Bureau of Economic Research (USA) - Economics material from the organization... The Social Sciences are a group of academic and research disciples that study the human aspects of the world, that requires the application of the scientific method. ... The Austrian School is a school of economic thought which rejects opposing economists reliance on methods used in natural science for the study of human action, and instead bases its formalism of economics on relationships through logic or introspection called praxeology. ... The Elections and Parties Series Democracy Representative democracy History of democracy Referenda Liberal democracy Representation Voting Voting systems Ideology Elections Elections by country Elections by calender Electoral systems Politics Politics by country Political campaigns Political science Political philosophy Related topics Political parties Parties by country Parties by name Parties by... A free market is an idealized market, where all economic decisions and actions by individuals regarding transfer of money, goods, and services are voluntary, and are therefore devoid of coercion and theft (some definitions of coercion are inclusive of theft). Colloquially and loosely, a free market economy is an economy... The color red and particularly the red flag are traditional symbols of Socialism. ... Collectivism, in general, is a term used to describe a theoretical or practical emphasis on the group, as well as the individual. ... (19th century - 20th century - 21st century - more centuries) Decades: 1900s 1910s 1920s 1930s 1940s 1950s 1960s 1970s 1980s 1990s As a means of recording the passage of time, the 20th century was that century which lasted from 1901–2000 in the sense of the Gregorian calendar (1900–1999 in the... Jurisprudence is the scientific and historic study of law, inclusive of: Legal history, including legal historiography and hermeneutics; Legal philosophy; Legal science, e. ... Cognitive science is usually defined as the scientific study either of mind or of intelligence (e. ... 1974 is a common year starting on Tuesday (click on link for calendar). ... The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel (Swe. ... Gunnar Myrdal (December 6, 1898 - May 17, 1987) was a Swedish economist and politician. ...

Contents


Life

Libertarianism
This series is linked to the

Politics series This article is about libertarianism, a liberal individualist philosophy favoring property rights (the most common meaning of the term today). ... The Elections and Parties Series Democracy Representative democracy History of democracy Referenda Liberal democracy Representation Voting Voting systems Ideology Elections Elections by country Elections by calender Electoral systems Politics Politics by country Political campaigns Political science Political philosophy Related topics Political parties Parties by country Parties by name Parties by...

Factions
Minarchism
Anarcho-capitalism
Paleolibertarianism
Neolibertarianism
Geolibertarianism
In civics, minarchism, sometimes called minimal statism, is the view that the size, role and influence of government in a free society should be minimal - only large enough to protect the liberty of each and every individual, without violating the liberty of any individuals itself. ... Anarcho-capitalism refers to an anti-statist philosophy that embraces capitalism as one of its foundational principles. ... Paleolibertarianism is a school of thought within American libertarianism founded by Murray Rothbard and Lew Rockwell, and closely associated with the Ludwig von Mises Institute. ... Neolibertarianism is a subset of libertarian thought that embraces incrementalism and pragmatism domestically and a generally interventionist foreign policy. ... Geolibertarianism is a political philosophy that holds with other forms of libertarianism that all products of labor should be privately owned and controlled. ...


Influences
Objectivism
Austrian School
Classical liberalism
Individualist anarchism
Objectivism is the philosophy of Russian-born American philosopher and author Ayn Rand. ... The Austrian School is a school of economic thought which rejects opposing economists reliance on methods used in natural science for the study of human action, and instead bases its formalism of economics on relationships through logic or introspection called praxeology. ... It has been suggested that this article or section be merged with liberalism. ... Individualist anarchism is a philosophical tradition, appearing primarily in the United States, that emphasises the autonomy of the individual, most notably in regard to its advocacy of private property rather than collective property. ...


Practices
Capitalism
Non-aggression
Capitalism has been defined in various ways (see Capitalism in Wikiquote). ... The non-aggression principle or non-aggression axiom is defined as a prohibition against the initiation of force, or the threat of force, against persons or property. ...


Key issues
Economic views
Views of rights
Theories of law
Criticism
The Austrian School of economics and the Chicago School of economics are important foundations of the economic system favored by modern libertarians —capitalism, where the means of production are privately owned, economic and financial decisions are made privately rather than by state control, and goods and services are exchanged in... Libertarians and Objectivists limit what they define as rights to variations on the right to be left alone, and argue that other rights such as the right to a good education or the right to have free access to water are not legitimate rights and do not deserve the same... Libertarian theories of law build on libertarianism or classical liberalism. ... Libertarianism is a political philosophy that supports largely unrestricted property rights and opposes most government functions (such as taxation, prosecution of victimless crimes and regulations on businesses beyond the minimum required to prevent fraud or property damage) as coercive, even if a democratic majority supports it. ...

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Hayek was born in Vienna to a family of prominent intellectuals. At the University of Vienna, where he received doctorates in 1921 and 1923, he studied law, psychology, and economics. Initially sympathetic to socialism, Hayek's economic thinking was transformed during his student years in Vienna by his exposure to the work of Ludwig von Mises. Vienna (German: Wien [viːn]; Hungarian: Bécs) is the capital of Austria, and also one of Austrias nine federal states (Bundesland Wien). ... University of Vienna, main building, seen from Beethovens apartment The University of Vienna (German: Universität Wien) in Austria was founded in 1365 by Rudolph IV and hence named Alma mater Rudolphina. ... 1921 was a common year starting on Saturday (see link for calendar). ... 1923 was a common year starting on Monday (link will take you to calendar). ... Psychology (Classical Greek: psyche = soul or mind, logos = study of) is an academic and applied field involving the study of behaviour, mind and thought and the underlying neurological bases of behaviour. ... Ludwig von Mises (September 29, 1881 - October 10, 1973), a notable economist and social philosopher, was born Ludwig Heinrich Edler von Mises in Lemberg, Austria-Hungary (today Lviv, Ukraine), the son of Arthur von Mises, a railroad engineer and civil servant, and Adele von Mises, born Adele Landau. ...


Hayek worked as a research assistant to Prof. Jeremiah Jenks of New York University from 1923 to 1924. He then served as director of the Austrian Institute of Economic Research before joining the faculty of the London School of Economics in 1931. Unwilling to return to Austria after its annexation to Nazi Germany, Hayek became a British citizen in 1938. Jeremiah Whipple Jenks (1856—1929) was an American economist who held professorships at both Cornell University and New York University. ... New York University (NYU) is a major research university in New York City. ... 1923 was a common year starting on Monday (link will take you to calendar). ... 1924 was a leap year starting on Tuesday (link will take you to calendar). ... The London School of Economics and Political Science, often referred to as the London School of Economics or the LSE, is a specialist university based in London, often regarded as the worlds most prestigious social science institution. ... 1931 is a common year starting on Thursday. ... The Nazi party used a right-facing swastika as their symbol and the red and black colors were said to represent Blut und Boden (blood and soil). ... 1938 was a common year starting on Saturday (link will take you to calendar). ...


In the early 1940s, Hayek enjoyed a considerable reputation as a leading economic theorist. But after the end of World War II, Hayek's laissez-faire doctrines were challegned by J. M. Keynes and others who argued for active government intervention in economic affairs. The debate between the two schools of thought remain unresolved today with Hayek's position gaining currency since the late 1970s. Unable to find employment in any of the major university departments of economics, Hayek became a professor in the Committee on Social Thought at the University of Chicago. He remained there from 1950 to 1962. From 1962 until his retirement in 1968, he was a professor at the University of Freiburg. Later he was a visiting professor at the University of Salzburg. Hayek died in 1992 in Freiburg, Germany. // Events and trends The 1940s were dominated by World War II, the most destructive armed conflict in history. ... World War II was a truly global conflict with many facets: immense human suffering, fierce indoctrinations, and the use of new, extremely devastating weapons like the atom bomb. ... Laissez-faire is short for laissez faire, laissez passer, a French phrase meaning to let things alone, let them pass. First used by the eighteenth century Physiocrats as an injunction against government interference with trade, it is now used as a synonym for strict free market economics. ... John Maynard Keynes John Maynard Keynes, 1st Baron Keynes of Tilton (pronounced kānz / kAnze), ) (June 5, 1883 – April 21, 1946) was an English economist, whose ideas had a major impact on modern economic and political theory as well as on Franklin D. Roosevelts New Deal. ... The Committee on Social Thought, one of several PhD-granting committees at the University of Chicago, was started in 1941 by the historian John U. Nef along with economist Frank Knight, anthropologist Robert Redfield, and University President Robert Maynard Hutchins. ... The University of Chicago is a private co-educational university located in Chicago, Illinois. ... 1950 was a common year starting on Sunday (link will take you to calendar). ... 1962 was a common year starting on Monday (link will take you to calendar). ... 1968 was a leap year starting on Monday (the link is to a full 1968 calendar). ... Albert Ludwigs University of Freiburg was founded 1457 in Freiburg by the Habsburgs. ... The University of Salzburg, or Paris Londron University after its founder, the Prince Archbishop Paris Londron, is located in the Austrian city of Salzburg, home of Mozart. ...


Work

The economic calculation problem

Hayek was one of the leading academic critics of collectivism in the 20th century. Hayek believed that all forms of collectivism (even those theoretically based on voluntary cooperation) could only be maintained by a central authority of some kind. In his popular book, The Road to Serfdom (1944) and in subsequent works, Hayek claimed that socialism would require central planning, and such planning in turn had a strong probability of leading towards totalitarianism, because, in his view, it could not be restricted to the economic sector and would eventually affect social life as well. Building on the earlier work of Mises and others, Hayek also contended that in centrally-planned economies an individual or a select group of individuals must determine the allocation of resources, but that these planners will never have enough information to carry out this allocation reliably. The efficient exchange and use of resources, Hayek claimed, can be maintained only through the price mechanism in free markets (see economic calculation problem). The Road to Serfdom is a book written by the economist Friedrich A. Hayek and originally published in 1944. ... 1944 was a leap year starting on Saturday (link will take you to calendar). ... Totalitarianism is a typology employed by political scientists to describe modern regimes in which the state regulates nearly every aspect of public and private behavior. ... In economics and business, the price is the assigned numerical monetary value of a good, service or asset. ... The economic calculation problem is a criticism of socialist economics. ...


In The Use of Knowledge in Society (1945), Hayek argued that the price mechanism serves to share and synchronize local and personal knowledge, allowing society's members to achieve diverse, complicated ends through a principle of spontaneous self-organization. He coined the term catallaxy to describe a "self-organizing system of voluntary co-operation." 1945 was a common year starting on Monday (link will take you to calendar). ... Self-organization refers to a process in which the internal organization of a system, normally an open system, increases automatically without being guided or managed by an outside source. ... Catallactics is the praxeological theory of the way the market economy reaches exchange ratios and prices. ...


Spontaneous order

Hayek viewed the price mechanism, not as a conscious invention (that which is intentionally designed by man), but as spontaneous order, or what is referred to as "that which is human action but not of human design". Thus, Hayek put the price mechanism on the same level as, for example, language. Such thinking led him to speculate on how the human brain could accommodate this evolved behavior. In The Sensory Order (1952), he proposed, independently of Donald Hebb, the connectionist hypothesis that forms the basis of the technology of neural networks and of much of modern neurophysiology. In economics and business, the price is the assigned numerical monetary value of a good, service or asset. ... Binomial name Homo sapiens Linnaeus, 1758 Subspecies Homo sapiens idaltu (extinct) Homo sapiens sapiens Human beings define themselves in biological, social, and spiritual terms. ... In the anatomy of animals, the brain, or encephalon, is the supervisory center of the nervous system. ... 1952 - Wikipedia, the free encyclopedia /**/ @import /skins-1. ... Donald Olding Hebb (July 22, 1904-August 20, 1985) was an influential psychologist, particularly in the area of neuropsychology, where he sought to understand how the function of neurons contributed to psychological processes such as learning. ... Connectionism is an approach in the fields of cognitive science, neuroscience, psychology and philosophy of mind. ... A neural network is an interconnected group of neurons. ... Neurophysiology is a part of physiology as a science, which is concerned with the study of the nervous system. ...


In an typically bold insight, Hayek attributed the birth of civilization to private property in his book The Fatal Conceit (1988). According to him, price signals are the only possible way to let each economic decision maker communicate tacit knowledge or dispersed knowledge to each other, in order to solve the economic calculation problem. This page deals with property as ownership rights. ... 1988 is a leap year starting on a Friday of the Gregorian calendar. ... The concept of tacit knowing comes from scientist and philosopher Michael Polanyi. ... In economics, dispersed knowledge is information that is dispersed throughout the marketplace, and is not in the hands of any single agent. ... The economic calculation problem is a criticism of socialist economics. ...


The business cycle

Hayek's writings on capital, money, and the business cycle are widely regarded as his most important contributions to economics. Mises had earlier explained monetary and banking theory in his Theory of Money and Credit (1912), applying the marginal utility principle to the value of money and then proposing a new theory of industrial fluctuations based on the concepts of the British Currency School and the ideas of the Swedish economist Knut Wicksell. Hayek used this body of work as a starting point for his own interpretation of the business cycle, which defended what later become known as the "Austrian business cycle theory". In his Prices and Production (1931) and The Pure Theory of Capital (1941) he explained the origin of the business cycle in terms of central bank credit expansion and its transmission over time in terms of capital misallocation caused by artificially low interest rates. Capital has a number of related meanings in economics, finance and accounting. ... Money is any marketable good or token used by a society as a store of value, a medium of exchange, or a unit of account. ... An abstract business cycle The business cycle or economic cycle refers to the ups and downs seen somewhat simultaneously in most parts of an economy. ... Ludwig von Mises (September 29, 1881 - October 10, 1973), a notable economist and social philosopher, was born Ludwig Heinrich Edler von Mises in Lemberg, Austria-Hungary (today Lviv, Ukraine), the son of Arthur von Mises, a railroad engineer and civil servant, and Adele von Mises, born Adele Landau. ... In economics, marginal utility is the additional utility (satisfaction or benefit) that a consumer derives from an additional unit of a commodity or service. ... Johan Gustaf Knut Wicksell, (December 20, 1851-May 3, 1926), Swedish economist. ... An interest rate is the rental price of money. ...


The "Austrian business cycle theory" has been criticized by advocates of rational expectations and other components of neoclassical economics, who point to the neutrality of money and to the real business cycle theory as providing a sounder understanding of the phenomenon. Hayek, in his 1939 book Profits, Interest and Investment, distanced himself from other theorists of the Austrian School, such as Mises and Rothbard, in beginning to shun the wholly monetary theory of the business cycle in favor of a more eccentric understanding based more on profits than on interest rates. Hayek explicitly notes that most of the more accurate explanations of the business cycle place more emphasis on real instead of nominal variables. He also notes that this more eccentric explanation model of the business cycle which he proposes cannot be wholly reconciled with any specific Austrian theory. Rational expectations is a theory in economics used to model the determination of expectations of future events by economic actors, originally proposed by John F. Muth (1961). ... Neoclassical economics refers to a general approach (a metatheory) to economics based on supply and demand which depends on individuals (or any economic agent) operating rationally, each seeking to maximize their individual utility or profit by making choices based on available information. ... In economics, neutrality of money occurs whenever a change in the stock of money affects only nominal variables in the economy such as prices, wages and exchange rates. ... The model of Real Business Cycles (RBCs) is a macroeconomics model formulated principally by Robert Lucas Jr, Finn E. Kydland and Edward C. Prescott, building upon the ideas of John F. Muth. ... 1939 was a common year starting on Sunday (link will take you to calendar). ... The Austrian School is a school of economic thought which rejects opposing economists reliance on methods used in natural science for the study of human action, and instead bases its formalism of economics on relationships through logic or introspection called praxeology. ... Murray Newton Rothbard Murray Newton Rothbard (March 2, 1926 - January 7, 1995) was an American economist and political theorist belonging to the Austrian School of Economics who helped define modern libertarianism and anarcho-capitalism. ...


Social and political philosophy

While known more as an economist than a philosopher, in the latter half of his career Hayek made a number of contributions to social and political philosophy, derived largely from his views on the limits of human knowledge, and the role played by his spontaneous order in social institutions. His arguments in favor of a society organized around a market order (in which the apparatus of state is employed solely to secure the peace necessary for a market of free individuals to function) were informed by a moral philosophy derived from epistemological concerns regarding the inherent limits of human knowledge. In his philosophy of science, Hayek was highly critical of what he termed scientism—abuses of the methods of science in the attempt to justify inherently unknowable propositions, particularly in the fields of social science, economics and economic history (see The Counter-Revolution of Science: Studies in the Abuse of Reason, 1952). In The Sensory Order: An Inquiry into the Foundations of Theoretical Psychology (1952), he develops his social theory of spontaneous order into a bold philosophy of mind which has recently become the focus of a renewed level of interest within the fields of cognitive science and evolutionary psychology. Social philosophy is the philosophical study of interesting questions about social behavior (typically, of humans). ... The Elections and Parties Series Democracy Representative democracy History of democracy Referenda Liberal democracy Representation Voting Voting systems Ideology Elections Elections by country Elections by calender Electoral systems Politics Politics by country Political campaigns Political science Political philosophy Related topics Political parties Parties by country Parties by name Parties by... Ethics is a general term for what is often described as the science (study) of morality. In philosophy, ethical behavior is that which is good or right. ... Epistemology, from the Greek words episteme (knowledge) and logos (word/speech) is the branch of philosophy that deals with the nature, origin and scope of knowledge. ... The philosophy of science is the branch of philosophy which studies the philosophical foundations, assumptions, and implications of science, including the natural sciences such as physics and biology, and the social sciences, such as psychology and economics. ... Scientism is a relatively newly coined word that refers to certain epistemologies based on science. ... Terms like SOSE (Studies of Society & the Environment) not only refer to social sciences but also studies of the environment. ... U.S. Economic Calendar Economics at the Open Directory Project Economics textbooks on Wikibooks The Economists Economics A-Z Institutions and organizations Bureau of Labor Statistics - from the American Labor Department Center for Economic and Policy Research (USA) National Bureau of Economic Research (USA) - Economics material from the organization... Economic history is the application of economic theories to historical study. ... 1952 - Wikipedia, the free encyclopedia /**/ @import /skins-1. ... 1952 - Wikipedia, the free encyclopedia /**/ @import /skins-1. ... This page needs attention and peer review. ... Philosophy of mind is the philosophical study of the nature of the mind, mental events, mental functions, mental properties, and consciousness. ... Cognitive science is usually defined as the scientific study either of mind or of intelligence (e. ... Evolutionary psychology (or EP) proposes that human and primate cognition and behavior can be better understood in light of human and primate evolutionary history. ...


Hayek and conservatism

An academic outcast for much of his career, Hayek attracted new attention in the 1980s and 1990s with the rise of anti-leftist governments in the United States and the United Kingdom. Margaret Thatcher, the Conservative British prime minister from 1979 to 1990, was an outspoken devotée of Hayek's writings. Shortly after Thatcher became Leader of the Conservative Party, she "reached into her briefcase and took out a book. It was Friedrich von Hayek's The Constitution of Liberty. Interrupting [the speaker], she held the book up for all of us to see. 'This', she said sternly, 'is what we believe', and banged Hayek down on the table." (John Ranelagh, Thatcher's People: An Insider's Account of the Politics, the Power, and the Personalities. London: HarperCollins, 1991.) The Right Honourable Margaret Hilda Thatcher, Baroness Thatcher, LG, OM, PC, FRS (born 13 October 1925), is a British stateswoman and was the Prime Minister of the United Kingdom from 1979 to 1990, also Leader of the Opposition from 1975, and the only woman to date to hold those positions. ... The Conservative Party is the largest political party on the centre-right in the United Kingdom. ... This page refers to the year 1979. ... 1990 is a common year starting on Monday of the Gregorian calendar. ... The Conservative Party is the largest political party on the centre-right in the United Kingdom. ...


Hayek wrote an essay entitled Why I Am Not a Conservative [1], (included as an appendix to The Constitution of Liberty) in which he disparaged conservatism for its inability to adapt to changing human realities or to offer a positive political program. His criticism was aimed primarily at the European-style conservatism, which has often opposed capitalism as a threat to social stability and traditional values. Hayek identified himself as a classical liberal, but noted that in the United States it had become almost impossible to use "liberal" in the older sense that he gave to the term. In the U.S., Hayek is usually described as a "libertarian", but the denomination that he preferred was "Old Whig" (a phrase borrowed from Edmund Burke). This article currently excludes conservatism in the United States and Canada, where the term can be taken to mean something different. ... Capitalism has been defined in various ways (see Capitalism in Wikiquote). ... Liberalism is a political current embracing several historical and present-day ideologies that claim defense of individual liberty as the purpose of government. ... This article is about libertarianism, a liberal individualist philosophy favoring property rights (the most common meaning of the term today). ... This article is about the British Whig party. ... Edmund Burke The Right Honourable Edmund Burke (January 12, 1729 – July 9, 1797) was an Anglo-Irish statesman, author, orator and political philosopher, who served for many years in the British House of Commons as a member of the Whig party. ...


Influence and recognition

By 1947, Hayek was the chief organizer of the Mont Pelerin Society, a group of classical liberals who sought to oppose what they saw as "socialism" in various areas. For many years their efforts remained on the intellectual fringes, but they have received increasing attention over the past 30 years. 1947 was a common year starting on Wednesday (link will take you to calendar). ... The Mont Pelerin Society (MPS) is an international organization composed of economists, intellectuals, business leaders, and others who favour economic liberalism. ...


In his speech at the 1974 Nobel Prize banquet, Hayek, whose work emphasized the fallibility of individual knowledge about economic and social arrangements, expressed his misgivings about promoting the perception of economics as a strict science on par with physics, chemistry, or medicine (the academic disciplines recognized by the original Nobel Prizes). 1974 is a common year starting on Tuesday (click on link for calendar). ... Sir Edward Appletons medal Photographs of Nobel Prize Medals. ... The willingness to question previously held truths and search for new answers resulted in a period of major scientific advancements, now known as the Scientific Revolution. ... Chemistry (in Greek: χημεία) is the science of matter that deals with the composition, structure, and properties of substances and with the transformations that they undergo. ... Medicine on the Web NLM (National Library of Medicine, contains resources for patients and healthcare professionals) Virtual Hospital (digital health sciences library by the University of Iowa) Online Medical Dictionary Collection of links to free medical resources Categories: Medicine | Health ...


While there is some dispute as to the matter of influence, Hayek had a long standing and close friendship with philosopher of science Karl Popper, also from Vienna. Each found support and similarities in each other's work and cited each other often, though not without qualification. In a letter to Hayek in 1944, Popper stated, "I think I have learnt more from you than from any other living thinker, except perhaps Alfred Tarski." (See Hacohen, 2000). Popper dedicated his Conjectures and Refutations to Hayek. For his part, Hayek dedicated a collection of papers, Studies in Philosophy, Politics, and Economics, to Popper, and in 1982 said, "...ever since his Logik der Forschung first came out in 1934, I have been a complete adherent to his general theory of methodology." (See Weimer and Palermo, 1982). Popper was also a participant at the 1947 inaugural meeting of the Mont Pelerin Society, organized by Hayek. Karl Popper Sir Karl Raimund Popper (July 28, 1902 – September 17, 1994), was an Austrian-born philosopher of science. ... 1944 was a leap year starting on Saturday (link will take you to calendar). ... Alfred Tarski (January 14, 1901 in Warsaw–October 26, 1983 in Berkeley, USA) was a Polish logician considered to be one of the greatest logicians of all time in a manner after Aristotle, Gottlob Frege, and Kurt Gödel. ... 1982 is a common year starting on Friday of the Gregorian calendar. ... 1934 was a common year starting on Monday (link will take you to calendar). ...


Even after his death, Hayek maintained a significant intellectual presence in the universities where he had taught: the London School of Economics, the University of Chicago, and the University of Freiburg. A student-run group, the LSE Hayek Society, was established in his honor. The Cato Institute, one of Washington, D.C.'s leading think tanks, named its lower level auditorium after Hayek, who had been a Distinguished Senior Fellow at Cato during his later years. The LSE (London School of Economics) Hayek Society supports classical liberalism, free market economics, free trade, and the spread of democracy worldwide. ... The Cato Institute is an influential non-profit public policy research foundation (think tank) with strong libertarian leanings (despite wide public perception that it is a conservative think-tank), headquartered in Washington, D.C. It is named after Catos Letters, a series of early 18th century British essays expounding...


Quotations

From The Political Order of a Free People: Limited and Unlimited Power:

Nobody with open eyes can any longer doubt that the danger to personal freedom comes chiefly from the left.

From A Conversation with Friedrich A. von Hayek, AEI, Washington D.C., 1979: Leftism can refer to: Left-wing politics An album by Leftfield ...

I have arrived at the conviction that the neglect by economists to discuss seriously what is really the crucial problem of our time is due to a certain timidity about soiling their hands by going from purely scientific questions into value questions. This is a belief deliberately maintained by the other side because if they admitted that the issue is not a scientific question, they would have to admit that their science is antiquated and that, in academic circles, it occupies the position of astrology and not one that has any justification for serious consideration in scientific discussion. It seems to me that socialists today can preserve their position in academic economics merely by the pretense that the differences are entirely moral questions about which science cannot decide.

References

  • Hacohen, M. Karl Popper: The Formative Years, 1902 – 1945. Cambridge: Cambridge University Press, 2000.
  • Weimer, W., Palermo, D., eds. Cognition and the Symbolic Processes. Hillsdale, NJ: Lawrence Erlbaum Associates. 1982. See Hayek's essay, "The Sensory Order after 25 Years", and "Discussion".

wefdsfsdf This article is about the year 2000. ... 1982 is a common year starting on Friday of the Gregorian calendar. ...


See also

This is a list of Austrian scientists Economists Eugen von Böhm-Bawerk Friedrich Hayek, economist and social scientist, Nobel Prize in economics 1974 Leopold Kohr, economist Carl Menger, founder of the Austrian School of economics Ludwig von Mises, free-market economist Oskar Morgenstern, co-founder of game theory Joseph... The following list is an election of famous Austrians. ... The Austrian School is a school of economic thought which rejects opposing economists reliance on methods used in natural science for the study of human action, and instead bases its formalism of economics on relationships through logic or introspection called praxeology. ...

External links

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  Results from FactBites:
 
FRIEDRICH A. HAYEK (5128 words)
Friedrich August von Hayek (1899-), a central figure in twentieth-century economics and foremost representative of the Austrian tradition, 1974 Nobel laureate in Economics, a prolific author not only in the field of economics but also in the fields of political philosophy, psychology, and epistemology, was born in Vienna, Austria on May 8, 1899.
Hayek soon came to be a vigorous participant in the debates that raged in England during the 1930s concerning monetary, capital, and business-cycle theories and was a major figure in the celebrated controversies with John Maynard Keynes, Piero Sraffa, and Frank H. Knight.
Hayek integrated his own developments in these fields into a cohesive account of a market process that tends towards intertemporal coordination and of central-bank policies that can interfere with that process in such a way as to cause artificial economic booms which are inevitably followed by economic busts.
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