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Definition of 'Friedrich Hayek'
A famous economist born in Vienna, Austria, in 1899. Friedrich Hayek is well-known for his numerous contributions in the field of economics and political philosophy. Hayek's approach mostly stems from the Austrian school of economics and emphasizes the limited nature of knowledge. He is particularly famous for his defense of free-market capitalism and is remembered as one of the greatest critics of the socialist consensus.
Friedrich Hayek is the co-winner of the The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 1974. He died on March 23, 1992.
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Investopedia explains 'Friedrich Hayek'
According to the official Nobel Prize website, Friedrich Hayek and Gunnar Myrdal won the Nobel Prize in Economics in 1974 "for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of interdependence of economic, social and institutional phenomena". After his death, some of the universities Hayek had taught at made tributes to him (such as naming an auditorium after him).
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Search results for 'Friedrich Hayek'
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http://www.investopedia.com/articles/economics/09/austrian-school-of-economics.asp
... Other than Carl Menger and Ludwig von Mises, the Austrian school also includes other
big names like Eugen von Bohm-Bawerk, Friedrich Hayek and many others. ...
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http://www.investopedia.com/articles/economics/08/keynesian-economics.asp
... on decision-making. This critique was popularized by economist Friedrich Hayek
in his 1944 work, "The Road to Serfdom". In the forward ...
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