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==Contributions==

==Contributions==

===The Road to Serfdom===

===The Road to Serfdom===

His most famous book is ''[[The Road To Serfdom]]'' (1944). In it, 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>

By far, Hayek's most famous book is ''[[The Road To Serfdom]]'' (1944). In it, he discusses the collapse of essential freedoms in the face of economic manipulation at the hands of well-meaning government actors. Written in Cambridge, UK from 1940 onwards, the book was intended mainly to warn a British audience of the dangers of socialism - a warning they sadly ignored by electing Labour's Clement Attlee to the premiership in the first post-war election in 1945 with, in time, catastrophic consequences for the British economy.  The book faired much better in the US, becoming a runaway success after a condensed edition appeared in the Reader's Digest.  John R. Searle chose ''Road to Serfdom'' as his book of the century, citing its very great influence on popular American post-war thought.

 

In the 1950's and now domiciled in the United States, Hayek perceived the need for a more systematic popular treatment of the case for liberal democracy than the arguments he had advanced in ''Serfdom''; the result was 1960's magisterial three-part ''The Constitution of Liberty''. Although this new work, weighing-in at 350 pages plus extensive endnotes, could not hope to equal the success of his earlier book, nevertheless Hayek's ''Constitution'' had huge influence (especially in the UK, somewhat ironically) becoming, along with Popper's ''The Open Society and its Enemies'', a founding text of Thatcherism. "This is what we believe," affirmed a stern-faced Margaret Thatcher at a 1975 opposition meeting, according to John Ranelagh - holding up her copy just long enough for the attendees to read the title before banging it down emphatically onto the table.

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

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

{{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]]

==Quotes==

==Quotes==