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Friedrich August von Hayek CH FBA (/ ˈ h aɪ ə k / HY-ək, German: [ˈfʁiːdʁɪç ˈʔaʊɡʊst fɔn ˈhaɪɛk] ⓘ; 8 May 1899 – 23 March 1992), often referred to by his initials F. A. Hayek, was an Austrian-British academic, who contributed to economics, political philosophy, psychology, and intellectual history.
- Austrian (1899–1938), British (1938–1992)
Apr 25, 2024 · economic system. welfare state. F.A. Hayek (born May 8, 1899, Vienna, Austria—died March 23, 1992, Freiburg, Germany) was an Austrian-born British economist noted for his criticisms of the Keynesian welfare state and of totalitarian socialism. In 1974 he shared the Nobel Prize for Economics with Swedish economist Gunnar Myrdal.
- Early Life and Education
- Notable Accomplishments
- The Bottom Line
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Friedrich Hayek was born in Vienna, Austria, on May 8, 1899. He attended the University of Austria where he obtained doctorates in both law and political science in 1921 and 1923, respectively. He also completed postgraduate work at New York University in 1924. Hayek founded the Austrian Institute for Business Cycle Research and served as its direc...
Friedrich Hayek and Gunnar Myrdaleach won the Nobel Prize in Economic Sciences in 1974 "for their pioneering work in the theory of money and economic fluctuations and their penetrating analysis of the interdependence of economic, social, and institutional phenomena."
Hayek is considered a major social theorist and political philosopher of the 20th century. His theory on how changing prices relay information that helps people determine their plans is widely regarded as an important milestone achievement in economics. This theory is what led him to the Nobel Prize.
Learn about Friedrich Hayek, a Nobel Prize-winning economist and political philosopher who defended free-market capitalism and criticized socialism. Find out his life story, major works, and key contributions to the Austrian school of economics.
- Will Kenton
Sep 15, 2012 · Hayek worked in the areas of philosophy of science, political philosophy, the free will problem, and epistemology. For all that, Hayek was more hedgehog than fox. His life’s work, for which he won a Nobel Prize in Economics in 1974, illuminated the nature and significance of spontaneous order.
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Hayek was the best-known advocate of what is now called Austrian economics. He was, in fact, the only major recent member of the Austrian school who was actually born and raised in Austria. After World War I, Hayek earned his doctorates in law and political science at the University of Vienna.
Mar 23, 1992 · Born: 8 May 1899, Vienna, Austria. Died: 23 March 1992, Freiburg, Germany. Prize motivation: “for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena”. Prize share: 1/2.
Biographical. Born: May 8, 1899, Vienna, Austria (son of Dr. August von Hayek, Professor of Botany at the University of Vienna and Felicitas née Juraschek) At various dates, Visiting Professor at the Universities of Stanford, Arkansas, Virginia, California (Los Angeles), Cape Town and Salzburg.
