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

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

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

by Friedrich-Naumann-Stiftung für die Freiheit

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