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'''Friedrich August Von Hayek''' (1899-1992) was a [[Nobel Prize]] winning [[economist]] and one of the most prominent members of the [[Austrian School of Economics]], a [[libertarian]] economic theory.  Hayek emphasized our limited knowledge of the markets (and other subjects), and thus our need for the price mechanism to communicate essential information about supply and demand.  His theories are that  no centralized planner or government can manage the [[economy]] and that the [[free market]] is the most efficient known allocator of resources.

'''Friedrich August Von Hayek''' (1899-1992) was a [[Nobel Prize]] winning [[economist]] and one of the most prominent members of the [[Austrian School of Economics]], a [[libertarian]] economic theory.  Hayek emphasized our limited knowledge of the markets (and other subjects), and thus our need for the price mechanism to communicate essential information about supply and demand.  His theories are that  no centralized planner or government can manage the [[economy]] and that the [[free market]] is the most efficient known allocator of resources.

Although Hayek was a self-proclaimed [[agnostic]] -- which helps explain why was allowed to win a [[Nobel Prize]] -- analysis has shown that "his treatment of individual liberty was more consistent

Although Hayek was a self-proclaimed [[agnostic]]—which helps explain why was allowed to win a [[Nobel Prize]]—analysis has shown that "his treatment of individual liberty was more consistent

with a [[Judeo-Christian]] worldview than with that of his naturalist peers and

with a [[Judeo-Christian]] worldview than with that of his naturalist peers and

postmodernist successors."<ref>https://www.gordon.edu/ace/pdf/F&ESpr09ElzingaandGivens.pdf</ref>

postmodernist successors."<ref>https://www.gordon.edu/ace/pdf/F&ESpr09ElzingaandGivens.pdf</ref>

==Contributions==

==Contributions==

===The Road to Serfdom===

===The Road to Serfdom===

His most famous popular book is [[The Road To Serfdom]] (1944). Where in he discusses the collapse of essential freedoms in the face of economic manipulation at the hands of well meaning government actors. His most influential work among economists however is his 1935 academic papers "The Nature and History of the Problem" and "The Present State of the Debate," on the total inability of socialism to coordinate and allocate resources due to their lack of price signals, an effect that lead to the eventual collapse of the [[Soviet Union]]. Many of these ideas were developed in conjunction with his friend and mentor [[Ludwig von Mises]]<ref>Econ Talk, Russ Roberts and Bruce Caldwell 10 January, 2011 [http://www.econtalk.org/archives/2011/01/caldwell_on_hay.html]</ref>.

His most famous popular book is [[The Road To Serfdom]] (1944). Where in he discusses the collapse of essential freedoms in the face of economic manipulation at the hands of well meaning government actors. His most influential work among economists however is his 1935 academic papers "The Nature and History of the Problem" and "The Present State of the Debate," on the total inability of socialism to coordinate and allocate resources due to their lack of price signals, an effect that lead to the eventual collapse of the [[Soviet Union]]. Many of these ideas were developed in conjunction with his friend and mentor [[Ludwig von Mises]].<ref>[http://www.econtalk.org/archives/2011/01/caldwell_on_hay.html Econ Talk, Russ Roberts and Bruce Caldwell 10 January, 2011]</ref>

===Criticism of Social Justice, Mill===

===Criticism of Social Justice, Mill===

Hayek wrote:

Hayek wrote:

{{cquote|Yet Mill appears to have been wholly unaware of the circumstance that in this meaning it refers to situations entirely different from those to which the four other meanings apply, or that this conception of 'social justice' leads straight to full-fledged socialism.<ref>{{cite book|last1=Hayek|first1=Friedrich|title=Law, Legislation and Liberty, Volume 2: The Mirage of Social Justice|date=1978|publisher=[[University of Chicago]] Press|location=Chicago|isbn=978-0226320830|pages=63-64}}</ref>}}

{{cquote|Yet Mill appears to have been wholly unaware of the circumstance that in this meaning it refers to situations entirely different from those to which the four other meanings apply, or that this conception of 'social justice' leads straight to full-fledged socialism.<ref>{{cite book|last1=Hayek|first1=Friedrich|title=Law, Legislation and Liberty, Volume 2: The Mirage of Social Justice|date=1978|publisher=[[University of Chicago]] Press|location=Chicago|isbn=978-0226320830|pages=63–64}}</ref>}}

[[Image:HAYEK1.JPG|left|thumb|300px]]  

[[Image:HAYEK1.JPG|left|thumb|300px]]  

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[[Category : Economic Preparedness]]

[[Category:Economic Preparedness]]

[[Category:Economists|Hayek, Friedrich A.]]

[[Category:Economists|Hayek, Friedrich A.]]

[[Category:Fiscal Conservatives]]

[[Category:Fiscal Conservatives]]