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Friedrich August von Hayek ( May 8, 1899 - March 23, 1992) was an economist and social scientist of the Austrian School, noted for his defense of free-market capitalism against a perceived rising tide of socialist thought in the mid-20th century. He also made important contributions to the fields of jurisprudence and cognitive science. He shared the 1974 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel with ideological rival Gunnar Myrdal.1 Life
Hayek was born in Vienna to a family of prominent intellectuals. At the University of ViennaThe University of Vienna ( German: Universitat Wien was founded in 1365 by Rudolph IV and hence named Alma mater Rudolphina''. It is the largest university in Austria and the oldest German-speaking university in the world. Nobel-prize winners who taught a, where he received doctorateA doctorate is an academic degree of the highest level. Traditionally, the award of a doctorate implies recognition of the candidate as an equal by the university faculty under which he or she has studied. There are essentially three types of doctorates:s in 1921Events January 2 The first religious radio broadcast ( KDKA AM in Pittsburgh, Pennsylvania) January 2 Spanish liner Santa Isabel sinks off Villa Garcia 244 dead January 2 DeYoung Museum in Golden Gate Park San Francisco opens. January 20 Republic of Turke and 1923Centuries: 19th century 20th century 21st century Decades: 1870s 1880s 1890s 1900s 1910s 1920s 1930s 1940s 1950s 1960s 1970s Years: 1918 1919 1920 1921 1922 1923 1924 1925 1926 1927 1928 Events January 1 Grouping of all UK railway companies into four larg, he studied law, psychologyPsychology is the study of mind, thought, and behaviour. It is largely concerned with humans, although the behaviour and thought of animals is also studied; either as a subject in its own right (see animal cognition), or more controversially, as a way of, and economics. Initially sympathetic to socialism, Hayek's economic thinking was transformed during his student years in Vienna by his exposure to the work of Ludwig von MisesLudwig von Mises ( September 29, 1881, Lwow October 10, 1973) was a notable economist and a major influence on the modern Libertarian movement. He was born in Austria-Hungary and subsequently taught at the University of Vienna in the years 1913 to 1934, w.
After postgraduate work at New York UniversityMotto Perstare et praestare ("To persevere and to excel") Established 1831 School type Private President John Sexton Location New York, NY, USA Enrollment 19,506 undergraduate, 18,682 graduate and professional Faculty 1,907 Campus Urban Athletics 18 sport (1923 - 1924Centuries: 19th century 20th century 21st century Decades: 1870s 1880s 1890s 1900s 1910s 1920s 1930s 1940s 1950s 1960s 1970s Years: 1919 1920 1921 1922 1923 1924 1925 1926 1927 1928 1929 See also 1924 in aviation 1924 in film 1924 in literature 1924 in mu), Hayek served as director of the Austrian Institute of Economic Research before joining the faculty of the London School of Economics in 1931. Unwilling to return to Austria after its annexation to Nazi Germany, Hayek became a British citizen in 1938.
In the early 1940's, Hayek enjoyed a considerable reputation as a leading economic theorist. But after the end of World War II, Hayek's laissez-faire doctrines were eclipsed by the growing prestige of J. M. Keynes and others who argued for active government intervention in economic affairs. Unable to find employment in any of the major university departments of economics, Hayek became a professor at the Committee on Social Thought of the University of Chicago. He remained there from 1950 to 1962. From 1962 until his retirement in 1968, he was a professor at the University of Freiburg. Later he was a visiting professor at the University of Salzburg .
