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→Contributions
==Contributions==
==Contributions==
[[File:Hayek and Solzhenitsyn Dec 12 1974.PNG|right|300px|thumb|Hayek (''right'') [[Solzhenitsyn]] (''left'') accepting [[Nobel Prize]]s in their respective fields, December 12, 1974.]]
===Early work===
===Early work===
Hayek's most influential work among economists are 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>
Hayek's most influential work among economists are 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>