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Friedrich A. von Hayek
                           Friedrich August von Hayek (1899–1992) had a major impact on liberal
                           thought, economic sciences as well as on the political stage of the Cold War.
                           The Austrian-British citizen influenced different so-called schools in Econom-
                           ics. In The Road to Serfdom he claims that government intervention like
                           piecemeal reforms inevitably lead to the kind ultimate domestic disaster that
                           paves the way for totalitarian regimes. The Nobel laureate was one of the great
                           polymaths of 20th century and contributed to jurisprudence neuroscience and
                           history of ideas – in other terms an outspoken global citizen, free marketer and
                           liberal philosopher.

1 Life                                                      3 Impact
Being born (Vienna, 8 May 1899) and                         Hayek’s role in the 20th century was com-
raised in a noble family with connections                   pared to Adam Smith’s influence of the
to academics, Friedrich August von Hayek                    18th. Having researched, published and
served in World War I: The decisive influ-                  taught all his lifetime his word influenced
ence was really World War I. It’s bound to                  philosophers, like Karl Popper, and politi-
draw your attention to the problems of                      cians, e.g. Ludwig Erhard, Margaret
political organization, he judged later in                  Thatcher and Ronal Reagan.
his life.                                                   In economics his direct impact on the
Vowing to work as a liberal for a better                    Austrian School, the Keynesians and the
world the son of a doctor earned doctor-                                               Chicago school is
ates from the University of Vienna in law                                              clearly traceable.
and economics. Before joining the London                                               Furthermore, his
School of Economics in 1931 he founded                                                 studies in phi-
together with Ludwig von Mises the AUS-                                                losophy and even
TRIAN INSTITUTE FOR BUSINESS CYCLE RESEARCH.                                           neurobiology are
In 1950 he continued research and teach-                                               widely     recog-
ing in Chicago and moved 1962 to the                        In 1974 Hayek received the nized.
University of Freiburg (Germany) until his                  Nobel Prize for his theory of
                                                                                            -ok- Sept. 2009
retirement (1968).                                          money.

He died in the circle of his family 23                      Further Reading
March 1992 in Freiburg.                                     CALDWELL, Bruce [Ed.]: The Collected Works of
                                                                F.A. von Hayek (19 Vol.) Chicago/London,
                                                                1997
2 Work                                                      http://mises.org/about/3234
Probably, his most known book is The                        his biography
Road to Serfdom (1944) in which he is                       http://www.iea.org.uk/files/upld-
objecting government intervention into                      publication43pdf?.pdf
market economy. Followed by The Consti-                     Road to Serfdom in Reader’s Digest format
tution of Liberty (1960) and Law, Legisla-                  http://revver.com/video/10904/hayeks-the-
tion, and Liberty (1978) together with The                  road-to-serfdom-in-five-minutes
Fatal Conceit: The Errors of Socialsm                       his book into a little sketch film
(1989) he always was an Anti-Socialist,                     http://mises.org/articles.aspx?AuthorId=126
Anti-Protectionist and pure Liberal.                        his papers

 Olaf Kellerhoff               House 19, Street 19, F-6/2   Tel.: +92 (51) 2 27 88 96
 Resident Representative       Islamabad                          +92 (51) 2 27 88 96
                               Pakistan                     Fax: +92 (51) 2 27 99 15
                                                            olaf..kellerhoff@fnst.org
                                                            www.southasia.fnst.org

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2009-09-11 FNF PAK - Liberal Thinkers 01-Hayek - Handout

  • 1. Friedrich A. von Hayek Friedrich August von Hayek (1899–1992) had a major impact on liberal thought, economic sciences as well as on the political stage of the Cold War. The Austrian-British citizen influenced different so-called schools in Econom- ics. In The Road to Serfdom he claims that government intervention like piecemeal reforms inevitably lead to the kind ultimate domestic disaster that paves the way for totalitarian regimes. The Nobel laureate was one of the great polymaths of 20th century and contributed to jurisprudence neuroscience and history of ideas – in other terms an outspoken global citizen, free marketer and liberal philosopher. 1 Life 3 Impact Being born (Vienna, 8 May 1899) and Hayek’s role in the 20th century was com- raised in a noble family with connections pared to Adam Smith’s influence of the to academics, Friedrich August von Hayek 18th. Having researched, published and served in World War I: The decisive influ- taught all his lifetime his word influenced ence was really World War I. It’s bound to philosophers, like Karl Popper, and politi- draw your attention to the problems of cians, e.g. Ludwig Erhard, Margaret political organization, he judged later in Thatcher and Ronal Reagan. his life. In economics his direct impact on the Vowing to work as a liberal for a better Austrian School, the Keynesians and the world the son of a doctor earned doctor- Chicago school is ates from the University of Vienna in law clearly traceable. and economics. Before joining the London Furthermore, his School of Economics in 1931 he founded studies in phi- together with Ludwig von Mises the AUS- losophy and even TRIAN INSTITUTE FOR BUSINESS CYCLE RESEARCH. neurobiology are In 1950 he continued research and teach- widely recog- ing in Chicago and moved 1962 to the In 1974 Hayek received the nized. University of Freiburg (Germany) until his Nobel Prize for his theory of -ok- Sept. 2009 retirement (1968). money. He died in the circle of his family 23 Further Reading March 1992 in Freiburg. CALDWELL, Bruce [Ed.]: The Collected Works of F.A. von Hayek (19 Vol.) Chicago/London, 1997 2 Work http://mises.org/about/3234 Probably, his most known book is The his biography Road to Serfdom (1944) in which he is http://www.iea.org.uk/files/upld- objecting government intervention into publication43pdf?.pdf market economy. Followed by The Consti- Road to Serfdom in Reader’s Digest format tution of Liberty (1960) and Law, Legisla- http://revver.com/video/10904/hayeks-the- tion, and Liberty (1978) together with The road-to-serfdom-in-five-minutes Fatal Conceit: The Errors of Socialsm his book into a little sketch film (1989) he always was an Anti-Socialist, http://mises.org/articles.aspx?AuthorId=126 Anti-Protectionist and pure Liberal. his papers Olaf Kellerhoff House 19, Street 19, F-6/2 Tel.: +92 (51) 2 27 88 96 Resident Representative Islamabad +92 (51) 2 27 88 96 Pakistan Fax: +92 (51) 2 27 99 15 olaf..kellerhoff@fnst.org www.southasia.fnst.org