Friedrich Hayek

Friedrich Hayek Western Philosophy 20th-century philosophy Full name Friedrich August von Hayek School/tradition Old Whig, Classical liberalism and Austrian School Main interests Economics, social philosophy, political philosophy, Hebbian theory, philosophy of mind Notable ideas Economic calculation problem, Catallaxy, Extended order, Dispersed knowledge, Spontaneous order, Hebbian theory Influenced by Friedrich von Wieser, Carl Menger, Ernst Mach, Eugen von Böhm-Bawerk, Ludwig von Mises, Bernard Mandeville, David Hume, Adam Ferguson, Ludwig Wittgenstein, John Locke, Edmund Burke, Alexis de Tocqueville, Lord Acton, Karl Popper Influenced Karl Popper, Margaret Thatcher, John Hicks, Robert Nozick, Israel Kirzner, Ronald Reagan, Milton Friedman, Michael Novak, Thomas Sowell, Jack Kemp, Roy Harrod, Bruno Leoni, Giovanni Sartori, George Stigler, Atilla Yayla, John Gray, Abba Lerner, John Maynard Keynes, Armen Alchian, Murray Rothbard, Leonid Hurwicz, George Will

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Friedrich August von Hayek CH (8 May 1899 – 23 March 1992), was an Austrian and British economist and philosopher, and a major critic of John Maynard Keynes. Hayek's account of how changing prices communicate signals which enable individuals to coordinate their plans is widely regarded as an important achievement in economics. This and other contributions have put Hayek at the top among a list of the most influential economists of the modern period.^[1] One of the great polymaths of the 20th century, Hayek also contributed to jurisprudence, neuroscience, philosophy and the history of ideas.

In 1974 Hayek shared the Nobel Memorial Prize in Economics with Gunnar Myrdal "for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena."^[2] He also received the U.S. Presidential Medal of Freedom in 1991.^[3]

Hayek lived in Austria, Great Britain, the United States and Germany, and became a British subject in 1938.

Early life

Hayek was born in Vienna, then capital of the Austro-Hungarian Empire, the son of a doctor in the municipal health service. Hayek's grandfathers were prominent academics working in the fields of statistics and biology. The paternal line had been raised to the ranks of the Austrian nobility, for its services to the state, a generation before his maternal forebears, also raised to the lower noble rank. Hayek's father turned his work on regional botany into a highly esteemed botanical treatise, continuing the family's scholarly traditions.

His mother's family belonged to the wealthier bourgeoisie. Also on his mother's side, Hayek was second cousin to the philosopher Ludwig Wittgenstein. His mother often played with Ludwig's sisters. Inspired by the accident of this family connection, Hayek became one of the first to read Wittgenstein's Tractatus Logico-Philosophicus when the book was published in its original German edition in 1921.

Already as a teenager, and at his father's suggestion, Hayek read the genetic and evolutionary works of Hugo de Vries and the philosophical works of Ludwig Feuerbach.^[4] In school Hayek was much taken by one instructor's lectures on Aristotle's ethics.

In 1917 he joined an artillery regiment in the Austro-Hungarian Army and fought on the Italian front. Much of Hayek's combat experience was spent as a spotter in an aeroplane. He survived the war without serious injury and was decorated for bravery.

Hayek then decided to pursue an academic career, determined to help avoid the mistakes that had led to World War I. Hayek said about his experience: "The decisive influence was really World War I. It's bound to draw your attention to the problems of political organization." He vowed to work for a better world. ^[5]

Student and economist

At the University of Vienna, he earned doctorates in law and political science in 1921 and 1923 respectively, and he also studied philosophy, psychology and economics with a keen interest. For a short time, when the University of Vienna closed, Hayek studied in Constantin von Monakow's Institute of Brain Anatomy, where Hayek spent much of his time staining brain cells. Hayek's time in Monakow's lab, and his deep interest in the work of Ernst Mach, inspired Hayek's first intellectual project, eventually published as The Sensory Order (1952). It turned Mach's contribution on its head, locating connective learning at the physical, neurological levels in a direct rejection of the "sense data" associationism of the naive empiricists and logical positivists. Hayek presented his work to the private seminar he had created with Herbert Furth called the Geistkreis.^[6]

Initially sympathetic to socialism, Hayek's economic thinking began to shift after reading Ludwig von Mises' book Socialism. He was a student of Friedrich von Wieser. Hayek worked as a research assistant to Prof. Jeremiah Jenks of New York University from 1923 to 1924. He then aided the Austrian government with the legal and economic details of the Treaty of Versailles at the close of the First World War.^{[citation needed]} It was at this time that Hayek began attending Ludwig von Mises' private seminars along with several friends, including Fritz Machlup, who had been participating in Hayek's own more general private seminar.

After his work for the government, Hayek founded and served as director of the Austrian Institute for Business Cycle Research before joining the faculty of the London School of Economics (LSE) in 1931 at the behest of Lionel Robbins. In the 1930s, Hayek enjoyed a considerable reputation as a leading economic theorist, but his models were not received well by the followers of John Maynard Keynes. Debate between the two schools of thought continues to this day. While at LSE in the 1930s, Hayek tutored David Rockefeller.^[7] Others who studied with Hayek at the LSE include Arthur Lewis, Ronald Coase, John Kenneth Galbraith, Abba Lerner, Nicholas Kaldor, George Shackle, Thomas Balogh, Vera Smith, L. K. Jah, Arthur Seldon, Paul Rosenstein-Rodan, and Oskar Lange. ^[8][9][10]

Unwilling to return to Austria after the Anschluss brought it under the control of Nazi Germany in 1938, Hayek remained in Britain and became a British subject in 1938. He held this status for the remainder of his life, although he did not live in Great Britain after 1950. He lived in the United States from 1950 to 1962 and then mostly in Germany, although briefly in Austria as well.^[11]

The Road to Serfdom

It was during this time that The Road to Serfdom was written. Hayek was concerned about the general view in Britain's academia that Fascism was a capitalist reaction against socialism. A chapter in the book is entitled, "The Socialist Roots of Nazism." The book was to be the popular edition of the second volume of a treatise entitled "The Abuse and Decline of Reason".^[12] It was written between 1940-1943. The title was inspired by the French classical liberal thinker Alexis de Tocqueville's writings on the "road to servitude".^[13] It was first published in Britain by Routledge in March 1944 and was quite popular, leading Hayek to call it "that unobtainable book," also due in part to wartime paper rationing.^[14] When it was published in the United States by the University of Chicago in September of that year, it achieved greater popularity than in Britain. At the arrangement of editor Max Eastman, the American magazine Reader's Digest also published an abridged version in April 1945, enabling The Road to Serfdom to reach a far wider audience than academics.

The libertarian economist Walter Block has observed critically that while the The Road to Serfdom makes a strong case against centrally-planned economies, it appears only lukewarm in its support of pure laissez-faire capitalism, with Hayek even going so far as to say that "probably nothing has done so much harm to the liberal cause as the wooden insistence of some liberals on certain rules of thumb, above all of the principle of laissez-faire capitalism".^[15]. In the book, Hayek writes that the government has a role to play in the economy through the monetary system, work-hours regulation, and institutions for the flow of proper information.^[16]

Chicago

In 1950, Hayek left the London School of Economics for the University of Chicago, becoming a professor in the Committee on Social Thought. Hayek's first class at Chicago was a faculty seminar on the philosophy of science attended by many of the University's most notable scientists of the time, including Enrico Fermi, Sewall Wright and Leó Szilárd. During his time at Chicago, Hayek worked on the philosophy of science, economics, political philosophy, and the history of ideas. Most of his economic notes from this period have yet to be published. He did not become part of the Chicago School of Economics.^[17]

After editing a book on John Stuart Mill's letters he planned to publish two books on the liberal order, The Constitution of Liberty and "The Creative Powers of a Free Civilization" (eventually the title for the second chapter of The Constitution of Liberty).^[18] He completed The Constitution of Liberty in May 1959, with publication in February 1960. Hayek was concerned "with that condition of men in which coercion of some by others is reduced as much as is possible in society".^[19] Hayek was disappointed that the book did not receive the same enthusiastic general reception as The Road to Serfdom had sixteen years before.^[20]

Freiburg and Salzburg

From 1962 until his retirement in 1968, he was a professor at the University of Freiburg, West Germany. Hayek regarded his years at Freiburg as "very fruitful".^[21] It was here where he wrote most of Law, Legislation and Liberty. This was intended for a technical audience, and it was published in three volumes in 1973, 1976 and 1979.

He became professor at the University of Salzburg from 1969 to 1977; he then returned to Freiburg, where he spent the rest of his days. When Hayek left Salzburg in 1977, he wrote that "I made a mistake in moving to Salzburg". The economics department was small and the library facilities were inadequate.^[22]

Nobel laureate

On 9 October, 1974 it was announced that Hayek would be awarded the Nobel Memorial Prize in Economic Sciences, along with Swedish socialist economist Gunnar Myrdal. He was surprised at being given the award and believed that he was given it with Myrdal in order to balance the award with someone from the opposite side of the political spectrum.^[23] During the Nobel ceremony in December 1974 Hayek met Russian dissident Aleksandr Solzhenitsyn. Hayek later sent him a Russian translation of The Road to Serfdom and Solzhenitsyn was surprised that someone who had not lived in Russia could see so clearly the effects of socialism.^[23] The Nobel Prize brought much greater public awareness of Hayek and has been described by his biographer as "the great rejuvenating event in his life".^[24]

Later life

In February 1975 Margaret Thatcher was elected leader of the British Conservative Party. The Institute of Economic Affairs arranged a meeting between Hayek and Thatcher in London soon after.^[25] During Thatcher's only visit to the Conservative Research Department in the summer of 1975, a speaker had prepared a paper on why the "middle way" was the pragmatic path the Conservative Party should take, avoiding the extremes of left and right. Before he had finished, Thatcher "reached into her briefcase and took out a book. It was Friedrich von Hayek's The Constitution of Liberty. Interrupting our pragmatist, she held the book up for all of us to see. 'This', she said sternly, 'is what we believe', and banged Hayek down on the table".^[26]

In 1977 Hayek was critical of the Lib-Lab pact, in which the British Liberal Party agreed to keep the British Labour government in office. Writing to The Times, Hayek said: "May one who has devoted a large part of his life to the study of the history and the principles of liberalism point out that a party that keeps a socialist government in power has lost all title to the name "Liberal". Certainly no liberal can in future vote "Liberal"."^[27] Hayek was criticised by Liberal politicians Lord Gladwyn and Andrew Phillips, who both claimed that the purpose of the pact was to discourage socialist legislation. Lord Gladwyn pointed out that the German Free Democrats were in coalition with the German Social Democrats.^[28] Hayek was defended by Professor Antony Flew who stated that the German Social Democrats, unlike the British Labour Party, had since the late 1950s abandoned public ownership of the means of production, distribution and exchange and had instead embraced the social market economy.^[29] In 1978 Hayek came into conflict with the Liberal Party leader David Steel who claimed that liberty was only possible with "social justice and an equitable distribution of wealth and power, which in turn require a degree of active government intervention" and that the Conservative Party were more concerned with the connection between liberty and private enterprise than between liberty and democracy. Hayek claimed that a limited democracy might be better than other forms of limited government at protecting liberty but that an unlimited democracy was worse than other forms of unlimited government because "its government loses the power even to do what it thinks right if any group on which its majority depends thinks otherwise". Hayek stated that if the Conservative leader had said "that free choice is to be exercised more in the market place than in the ballot box, she has merely uttered the truism that the first is indispensable for individual freedom while the second is not: free choice can at least exist under a dictatorship that can limit itself but not under the government of an unlimited democracy which cannot".^[30]

In 1984, he was appointed as a member of the Order of the Companions of Honour (CH) by Queen Elizabeth II of the United Kingdom on the advice of the British Prime Minister Margaret Thatcher for his "services to the study of economics". Hayek had hoped to receive a baronetcy, and after he was awarded the CH he sent a letter to his friends requesting that he be called the English version of Friedrich (Frederick) from now on. After his twenty-minute audience with the Queen, he was "absolutely besotted" with her according to his daughter-in-law, Esca Hayek. Hayek said a year later that he was "amazed by her. That ease and skill, as if she'd known me all my life". The audience with the Queen was followed by a dinner with family and friends at the IEA. When, later that evening, Hayek was dropped off at the Reform Club, he commented: "I've just had the happiest day of my life".^[31]

In 1991 President George H. W. Bush awarded Hayek the Presidential Medal of Freedom, one of the two highest civilian awards in the United States, for a "lifetime of looking beyond the horizon". Hayek died in 1992 in Freiburg, Germany.

Work

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The economic calculation problem

Hayek was one of the leading academic critics of collectivism in the 20th century. Hayek believed that all forms of collectivism (even those theoretically based on voluntary cooperation) could only be maintained by a central authority of some kind. In his popular book, The Road to Serfdom (1944) and in subsequent works, Hayek claimed that socialism required central economic planning and that such planning in turn had a risk of leading towards totalitarianism, because the central authority would have to be endowed with powers that would have an impact on social life as well, and because the knowledge required for central planning is inherently decentralized.

Building on the earlier work of Mises and others, Hayek also argued that while, in centrally planned economies, an individual or a select group of individuals must determine the distribution of resources, these planners will never have enough information to carry out this allocation reliably. The efficient exchange and use of resources, Hayek claimed, can be maintained only through the price mechanism in free markets (see economic calculation problem). In The Use of Knowledge in Society (1945), Hayek argued that the price mechanism serves to share and synchronize local and personal knowledge, allowing society's members to achieve diverse, complicated ends through a principle of spontaneous self-organization. He used the term catallaxy to describe a "self-organizing system of voluntary co-operation."

In Hayek's view, the central role of the state should be to maintain the rule of law, with as little arbitrary intervention as possible.

Spontaneous order

Hayek viewed the free price system, not as a conscious invention (that which is intentionally designed by man), but as spontaneous order, or what is referred to as "that which is the result of human action but not of human design". Thus, Hayek put the price mechanism on the same level as, for example, language. Such thinking led him to speculate on how the human brain could accommodate this evolved behavior. In The Sensory Order (1952), he proposed, independently of Donald Hebb, the connectionist hypothesis that forms the basis of the technology of neural networks and of much of modern neurophysiology¹.

Hayek attributed the birth of civilization to private property in his book The Fatal Conceit (1988). He explained that price signals are the only means of enabling each economic decision maker to communicate tacit knowledge or dispersed knowledge to each other, in order to solve the economic calculation problem.

Investment and choice

Perhaps more fully than any other economist, Hayek investigated the choice theory of investment involving the inter-relations between non-permanent production goods and "latent" or potentially economic permanent resources, building on the choice theoretical insight that, "processes that take more time will evidently not be adopted unless they yield a greater return than those that take less time."^[32] Hayek's work on the microeconomics of the choice theoretics of investment, non-permanent goods, potential permanent resources, and economically adapted permanent resources mark a central dividing point between Hayek's work on central planning, trade cycle theory, the division of knowledge, and entrepreneurial adaptation and that of most all other economists, most especially that of the macroeconomic "Marshallian" economists in the tradition of John Maynard Keynes and the microeconomic "Walrasian" economists in the tradition of Abba Lerner.

The business cycle

Capital, money, and the business cycle are prominent topics in Hayek's early contributions to economics. Mises had earlier explained monetary and banking theory in his Theory of Money and Credit (1912), applying the marginal utility principle to the value of money and then proposing a new theory of industrial fluctuations based on the concepts of the British Currency School and the ideas of the Swedish economist Knut Wicksell. Hayek used this body of work as a starting point for his own interpretation of the business cycle, which defended what later became known as the "Austrian Theory of the Business Cycle". In his Prices and Production (1931) and The Pure Theory of Capital (1941), he explained the origin of the business cycle in terms of central bank credit expansion and its transmission over time in terms of capital misallocation caused by artificially low interest rates. Hayek claimed that: The past instability of the market economy is the consequence of the exclusion of the most important regulator of the market mechanism, money, from itself being regulated by the market process. In accordance with arguments outlined in his essay The Use of Knowledge in Society, he argued that a monopolistic governmental agency like a central bank can neither possess the relevant information which should govern supply of money, nor have the ability to use it correctly. ^[33]

Social and political philosophy

In the latter half of his career Hayek made a number of contributions to social and political philosophy, which he based on his views on the limits of human knowledge^[34], and the idea of spontaneous order in social institutions. He argues in favor of a society organized around a market order, in which the apparatus of state is employed almost (though not entirely) exclusively to enforce the legal order (consisting of abstract rules, and not particular commands) necessary for a market of free individuals to function. These ideas were informed by a moral philosophy derived from epistemological concerns regarding the inherent limits of human knowledge.

In his philosophy of science, which has much in common with that of his good friend Karl Popper, Hayek was highly critical of what he termed scientism: a false understanding of the methods of science that has been mistakenly forced upon the social sciences, but that is contrary to the practices of genuine science. Usually scientism involves combining the philosophers' ancient demand for demonstrative justification with the associationists' false view that all scientific explanations are simple two-variable linear relationships. Hayek points out that much of science involves the explanation of complex multi-variable and non-linear phenomena, and that the social science of economics and undesigned order compares favourably with such complex sciences as Darwinian biology. These ideas were developed in The Counter-Revolution of Science: Studies in the Abuse of Reason, 1952 and in some of Hayek's later essays in the philosophy of science such as "Degrees of Explanation" and "The Theory of Complex Phenomena".

In The Sensory Order: An Inquiry into the Foundations of Theoretical Psychology (1952), Hayek independently developed a "Hebbian learning" model of learning and memory – an idea which he first conceived in 1920, prior to his study of economics. Hayek's expansion of the "Hebbian synapse" construction into a global brain theory has received continued attention^{[citation needed]} in neuroscience, cognitive science, computer science, behavioral science, and evolutionary psychology.

Hayek and conservatism

Hayek attracted new attention in the 1980s and 1990s with the rise of conservative governments in the United States, United Kingdom, and Canada. After winning the 1979 election, Margaret Thatcher appointed Keith Joseph, the director of the Hayekian Centre for Policy Studies, as her secretary of state for industry in an effort to redirect parliament's economic strategies. Likewise, David Stockman, Ronald Reagan's most influential financial official in 1981 was an acknowledged follower of Hayek.^[35]

Hayek wrote an essay titled Why I Am Not a Conservative^[36] (included as an appendix to The Constitution of Liberty), in which he disparaged conservatism for its inability to adapt to changing human realities or to offer a positive political program. Although he noted that modern day conservatism shares many opinions on economics with classic liberals, particularly a belief in the free market, he believed it's because conservatism wants to "stand still", whereas liberalism embraces the free market because it "wants to go somewhere". Hayek identified himself as a classical liberal, but noted that in the United States it had become almost impossible to use "liberal" in its original definition, and the term "libertarian" has been used instead. However, for his part Hayek found this term "singularly unattractive" and offered the term "Old Whig" (a phrase borrowed from Edmund Burke) instead. In his later life he said: "I am becoming a Burkean Whig". ^[37]

Influence and recognition

Hayek's profound influence on the development of economics is universally acknowledged. Hayek is the second most frequently cited economist (after Kenneth Arrow) in the Nobel lectures of the prize winners in economics – particularly that his lecture was critical of the field of orthodox economics and neo-classical modelization. A number of Nobel winners – such as Vernon Smith and Herbert Simon – recognize Hayek as the greatest economist of the modern period. Hayek is widely recognized for having introduced the time dimension to the equilibrium construction, and for his key role in helping to having inspired the fields of growth theory, information economics, and the theory of spontaneous order. The "informal" economics presented in Milton Friedman's massively influential popular work "Free to Choose" (1980), is explicitly Hayekian in its account of the price system as a system for transmitting and coordinating knowledge. This can be explained by the fact that Friedman taught Hayek's famous paper "The Use of Knowledge in Society" (1945) in his graduate seminars.

Harvard economist and former Harvard University President Lawrence Summers explains Hayek's place in modern economics this way: "What's the single most important thing to learn from an economics course today? What I tried to leave my students with is the view that the invisible hand is more powerful than the [un]hidden hand. Things will happen in well-organized efforts without direction, controls, plans. That's the consensus among economists. That's the Hayek legacy."^[38]

By 1947, Hayek was an organizer of the Mont Pelerin Society, a group of classical liberals who sought to oppose what they saw as socialism in various areas. He was also instrumental in the founding of the Institute of Economic Affairs, the free-market think tank that inspired Thatcherism.

Hayek had a long-standing and close friendship with philosopher of science Karl Popper, also from Vienna. In a letter to Hayek in 1944, Popper stated, "I think I have learnt more from you than from any other living thinker, except perhaps Alfred Tarski." (See Hacohen, 2000). Popper dedicated his Conjectures and Refutations to Hayek. For his part, Hayek dedicated a collection of papers, Studies in Philosophy, Politics, and Economics, to Popper, and in 1982 said, "... ever since his Logik der Forschung first came out in 1934, I have been a complete adherent to his general theory of methodology."^[39] Popper also participated in the inaugural meeting of the Mont Pelerin Society. Their friendship and mutual admiration, however, do not change the fact that there are important differences between their ideas.^[40]

Hayek's greatest intellectual debt was to Carl Menger, who pioneered an approach to social explanation similar to that developed in Britain by Bernard Mandeville and the Scottish moral philosophers (cf. Scottish Enlightenment). He had a wide-reaching influence on contemporary economics, politics, philosophy, sociology, psychology and anthropology. For example, Hayek's discussion in The Road to Serfdom (1944) about truth, falsehood and the use of language influenced some later opponents of postmodernism.^[41]

Legacy and honors

Even after his death, Hayek's intellectual presence was noticeable, especially in the universities where he had taught: the London School of Economics, the University of Chicago, and the University of Freiburg. A number of tributes resulted, many posthumous.

• A student-run group at the LSE Hayek Society, was established in his honor.
• At Oxford University, the Oxford Libertarian Society was previously known as the Hayek Society.
• The Cato Institute named its lower level auditorium after Hayek, who had been a Distinguished Senior Fellow at Cato during his later years.
• Also, the auditorium of the school of economics in Universidad Francisco Marroquín in Guatemala is named after him.

Hayek's work on price theory has been central to the thinking of Jimmy Wales about how to manage the Wikipedia project.^[42]

Selected bibliography

See also: List of books by Friedrich Hayek

• Monetary Theory and the Trade Cycle, 1929.
• Prices and Production, 1931.
• Profits, Interest and Investment: And other essays on the theory of industrial fluctuations, 1939.
• The Road to Serfdom, 1944.
• Individualism and Economic Order, 1948.
• The Constitution of Liberty, 1960.
• Law, Legislation and Liberty (3 volumes)

1) Rules and Order, 1973

2) The Mirage of Social Justice, 1976

3) The Political Order of a Free People, 1979

• The Fatal Conceit: The Errors of Socialism, 1988. (The content of the book was heavily influenced by William Warren Bartley)^[43]

Notes

Bibliography

• Birner, Jack, 2001, "The mind-body problem and social evolution," CEEL Working Paper 1-02.
• Birner, Jack, and Rudy van Zijp, eds., Hayek: Co-ordination and Evolution: His legacy in philosophy, politics, economics and the history of ideas (1994)
• Birner, Jack, 2009, "From group selection to ecological niches. Popper's rethinking of evolutionary theory in the light of Hayek's theory of culture", in S. Parusnikova & R.S. Cohen (eds.), Rethinking Popper, Boston Studies in the Philosophy of Science Vol. 272, Springer 2009
• Brittan, Samuel "Hayek, Friedrich August (1899–1992)", Oxford Dictionary of National Biography, (2006) online
• Caldwell, Bruce, 2005. Hayek's Challenge: An Intellectual Biography of F.A. Hayek.
• Cohen, Avi J. "The Hayek/Knight Capital Controversy: the Irrelevance of Roundaboutness, or Purging Processes in Time?" History of Political Economy 2003 35(3): 469-490. Issn: 0018-2702 Fulltext: online in Project Muse, Swetswise and Ebsco
• Doherty, Brian. 2007. Radicals for Capitalism: A Freewheeling History of the Modern American Libertarian Movement
• Ebenstein, Alan O., 2001. Friedrich Hayek: A Biography.
• Frowen, S. ed., (1997) Hayek: economist and social philosopher
• Gamble, Andrew. (1996) The Iron Cage of Liberty, an analysis of Hayek's ideas
• Gray, John, 1998. Hayek on Liberty.
• Hacohen, Malachi, 2000. Karl Popper: The Formative Years, 1902 – 1945.
• Horwitz, Steven. "Friedrich Hayek, Austrian Economist." Journal of the History of Economic Thought 2005 27(1): 71-85. Issn: 1042-7716 Fulltext: in Swetswise, Ingenta and Ebsco
• Issing, O. (1999) Hayek, currency competition and European monetary union
• Kasper, Sherryl, 2002, The Revival of Laissez-Faire in American Macroeconomic Theory: A Case Study of Its Pioneers. Chpt. 4.
• Kley, Roland, 1994. Hayek's Social and Political Thought. Oxford Univ. Press.
• Muller, Jerry Z., 2002. The Mind and the Market: Capitalism in Western Thought. Anchor Books.
• Pavlík, Ján. 2004 [1]. University of Economics, Prague F. A. von Hayek and The Theory of Spontaneous Order. Professional Publishing 2004, Prague [2].
• Rosenof, Theodore, 1974, "Freedom, Planning, and Totalitarianism: The Reception of F. A. Hayek's Road to Serfdom," Canadian Review of American Studies.
• Samuelson, Richard A. "Reaction to the Road to Serfdom." Modern Age 1999 41(4): 309-317. Issn: 0026-7457 Fulltext: in Ebsco
• Shearmur; Jeremy, 1996. Hayek and after: Hayekian Liberalism as a Research Programme. Routledge.
• Touchie, John, 2005. Hayek and Human Rights: Foundations for a Minimalist Approach to Law. Edward Elgar.
• Vanberg, V. (2001). "Hayek, Friedrich A von (1899–1992)," International Encyclopedia of the Social & Behavioral Sciences, pp. 6482–6486. Abstract.
• Vernon, Richard. "The 'Great Society' and the 'Open Society': Liberalism in Hayek and Popper." Canadian Journal of Political Science 1976 9(2): 261-276. Issn: 0008-4239 Fulltext: in Jstor
• Weimer, W., and Palermo, D., eds., 1982. Cognition and the Symbolic Processes. Lawrence Erlbaum Associates. Contains Hayek's essay, "The Sensory Order after 25 Years" with "Discussion."
• Wolin, R. 2004. The Seduction of Unreason: The Intellectual Romance with Fascism from Nietzsche to Postmodernism. Princeton University Press, Princeton.

Primary sources

• Hayek, Friedrich. Hayek on Hayek: an autobiographical dialogue, ed. S. Kresge and L. Wenar (1994)
• Hayek, Friedrich. The collected works of F. A. Hayek, ed. W. W. Bartley and others (1988–)

See also

External links

Wikiquote has a collection of quotations related to: Friedrich Hayek

• The Hayek Scholar's Page
• UCLA Oral History 1978 Interviews with Friedrich Hayek
• Bio from the Ludwig von Mises Institute
• List of Articles written by Hayek from the Ludwig von Mises Institute
• Hayek's influence on Friesian philosophy
• Official 1974 Nobel Prize page
• Bio and online works on Econlib
• The Road to Serfdom in Five Minutes Hayek's book, as illustrated by Look Magazine, condensed into a 5-minute movie
• Hayek, F. A Directory of links on Hayek from the Open Source Directory
• F A Hayek on the Adam Smith Institute website
• Hayek Bio at hayek.de
• Reason magazine's article on what Hayek might think of gay marriage (describes the conservatism vs. liberalism dispute)
• Information and Economics: A critique of Hayek essay included in the book Towards a New Socialism reviewed by the hayekian Len Brewster
• The economics of information, market socialism and Hayek's legacy
• Hayek and Socialism by Bruce Caldwell
• The Market Dynamics of Speculation: Hayekian Market Signals and the Rise of the Culture Industries
• The Connectionist Mind: A Study of Hayekian Psychology by Barry Smith
• Hayek Links The most extensive list of links on Hayek
• Oxford Hayek Society
• "The Road from Serfdom", interview in Reason by Thomas W. Hazlett
• Hayek and the Idea of Plan-Coordinationby Israel Kirzner
• IDEAS/RePEc