Friedrich Hayek

Author details

Born:
May 14, 1899
Died:
March 23, 1992

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Friedrich August von Hayek ( HY-ək, German: [ˈfʁiːdʁɪç ˈʔaʊɡʊst fɔn ˈhaɪɛk] (listen); 8 May 1899 – 23 March 1992), often referred to by his initials F. A. Hayek, was an Austrian–British economist, legal theorist and philosopher who is best known for his defense of classical liberalism. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for their work on money and economic fluctuations, and the interdependence of economic, social and institutional phenomena. His account of how changing prices communicate information that helps individuals coordinate their plans is widely regarded as an important achievement in economics, leading to his prize.Hayek served in World War I during his teenage years and said that this experience in the war and his desire to help avoid the mistakes that had led to the war drew him into economics. At the University of Vienna, he studied economics, eventually receiving his doctoral degrees in law in 1921 and in political science in 1923. He subsequently lived and worked in Austria, Great Britain, the United States, and Germany; he became a British subject in 1938. Hayek's academic life was mostly spent at the London School of Economics, and later at the University of …

Books by Friedrich Hayek