Difference between revisions of "Friedrich Hayek"
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| − | '''Friedrich August Von Hayek''' (1899-1992) was a [[Nobel Prize]] winning economist and one of the most prominent member of the [[Austrian School of Economics]], a [[libertarian]] movement. 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. | + | '''Friedrich August Von Hayek''' (1899-1992) was a [[Nobel Prize]] winning economist and one of the most prominent member of the [[Austrian School of Economics]], a [[libertarian]] movement. 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 freemarket is the most efficient known allocator of resources. |
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| + | ==The Road To Serfdom== | ||
| + | His most famous book is [[The Road To Serfdom]]. | ||
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Hayek has been compared to the philosopher [[David Hume]] with respect to his insistence that we should be "sensible of our ignorance." | Hayek has been compared to the philosopher [[David Hume]] with respect to his insistence that we should be "sensible of our ignorance." | ||
Revision as of 22:27, July 13, 2007
Friedrich August Von Hayek (1899-1992) was a Nobel Prize winning economist and one of the most prominent member of the Austrian School of Economics, a libertarian movement. 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 freemarket is the most efficient known allocator of resources.
The Road To Serfdom
His most famous book is The Road To Serfdom.
Hayek has been compared to the philosopher David Hume with respect to his insistence that we should be "sensible of our ignorance."