Austrian economist Friedrich Hayek: biography, activities, views and books

Friedrich August von Hayek is an Austrian and British economist and philosopher. He defended the interests of classical liberalism. In 1974, he received the Nobel Prize for a couple with Gunnar Mirdal for "pioneering work in the theory of money and ... a deep analysis of the interdependence of economic, social and institutional phenomena." Hayek is called a representative of the Austrian and Chicago schools. His main achievements are a calculating argument, catallactics, the theory of scattered knowledge, a price signal, a spontaneous order, the Hayek-Hebb model.

general information

Friedrich Hayek was a significant social theorist and political philosopher of the 20th century. His observation of how price change signals important information to individuals that helps them coordinate their plans has become an important achievement in the economy. Hayek participated in the First World War and repeatedly said that this experience gave rise to his desire to become a scientist and help people avoid mistakes that led to an armed clash. During his life he changed his place many times. Friedrich Hayek worked in Austria, Great Britain, USA and Germany. He was a professor at the London School of Economics, the University of Chicago and the University of Friborg. In 1939, Hayek received British citizenship. In 1984, he became a member of the Order of Honor Holders and the first winner of the Hans Martin Schleyer Prize. His article "The use of knowledge in society" was included in the top twenty published by The American Economic Review in the first 100 years of its existence.

Biography

Friedrich Hayek was born in Vienna. His father was a doctor and a freelance lecturer in botany at the local university. Mother Hayek was born into a wealthy family of landowners. In addition to Friedrich, the couple had two more sons (1.5 and 5 years younger than him). Both Hayek's grandfathers were scientists. His second cousin from the mother side was the famous philosopher Ludwig Wittgenstein. All this significantly influenced the choice of the sphere of interests of the future scientist. In 1917 Friedrich Hayek joined the artillery regiment in the Austro-Hungarian army on the Italian front. He was awarded for bravery during the hostilities.

In 1921 and 1923 he defended his Ph.D. in law and political science. In 1931 he began working at the London School of Economics. He quickly became famous. And they began to talk about Hayek as the main theoretician in the field of economics in the world. After Germany was under Nazi rule, he decided to accept British citizenship. In 1950-1962 he lived in the United States. After that, he moved to Germany. However, Hayek remained a British subject until the end of his life. In 1974 he became a Nobel Prize laureate. This event brought him even greater popularity. During the ceremony, he met with Russian dissident Alexander Solzhenitsyn. Then he sent him the translation of his most famous work, "The Road to Slavery."

Personal life

In August 1926, Friedrich Hayek married Helen Bertha Maria von Fritsch. They met at work. The couple had two children, but in 1950 they parted. Two weeks after the divorce, Hayek married Helene Bitterlic in Arkansas, where it could be done.

Friedrich Hayek: books

The University of Chicago plans to release a collection of works by a scientist who has worked here for a long time. A series of 19 volumes will contain new editions of books, author interviews, articles, letters and unpublished drafts. The most famous works of Hayek include:

• "Monetary Theory and the Trade Cycle", 1929.
• "Prices and production", 1931.
• "Income, interest and investment and other essays on the theory of industrial oscillations", 1939.
• "The Road to Slavery", 1944.
• "Individualism and the economic order", 1948.
• "The transfer of the ideals of freedom", 1951.
• "Counterrevolution in Science: Studies on Abuse of Mind", 1952.
• "The Constitution of Freedom", 1960.
• "Pernicious self-confidence: the mistakes of socialism", 1988.

Friedrich Hayek, "The Road to Slavery"

This is the most famous work of the Austrian economist and philosopher. He wrote it in 1940-1943. In it, he warns of the dangers of tyranny, which necessarily ends the government's control over making decisions through central planning. Friedrich von Hayek argues that the rejection of individualism and the ideas of classical liberalism inevitably leads to the loss of freedom, the creation of a passive society, the dictatorship and the "slavery" of people. It should be noted that the assertions of the scientist ran counter to the views held at that time in scientific works that fascism (national socialism) was the answer of capitalism to the development of socialism. Hayek pointed to the common roots of both systems. Since the publication, more than two million copies of The Road to Slavery have been sold. The work of Friedrich Hayek has had a significant impact on economic and political discourse in the 20th century. It is quoted today.

Contribution and recognition

Hayek's work had a significant impact on the development of economic thought. His ideas are the second most cited (after Kenneth Arrow) in the lectures of Nobel laureates. Vernon Smith and Herbert Simon call him the most famous modern economist. It was Hayek who first introduced the time dimension into market equilibrium. He had a significant influence on the development of growth theory, the information economy and the concept of spontaneous order.

Heritage and rewards

Even after his death, Hayek still remains one of the most prominent economists of our time. His views are not at all obsolete. In his honor are named:

• Student society at the London School of Economics. It was created in 1996.
• Society in Oxford. It was created in 1983.
• Auditorium at the Cato Institute. In recent years, Hayek has been awarded the title of Honored Senior Researcher of this American research organization.
• Audience at the University of Francisco Marroquin in Guatemala.
• Fund for scientists of the Institute of Humanitarian Research. He gives awards to graduate students and young researchers.
• Annual lecture at the Ludwig von Mises Institute. On it, scientists talk about Hayek's contribution to science.
• Award at the George Mason University for writing an economic essay.