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F. A. Hayek (1899-1992)
By
Jul 21, 2000
 riedrich Augustus von Hayek's seminal works, The Road to Serfdom (1944) and The Constitution of Liberty (1959) mark the turning point of 20th Century economic and political thought away from the barbarism inherent in collectivism and socialism and back towards a civil society based on free association and exchange as guided by the rule of law. He turned economic theory away from Statism, which looks good on paper but is disastrous in practice, back to true Liberalism as classically defined. In 1974 F. A. Hayek, along with Gunnar Myrdal, won the Nobel Peace Prize for Economic Science for his, "...pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena." F. A. Hayek lived to see his economic principles embraced and implemented by US President Ronald Reagan and British Prime Minister Margaret Thatcher.
Why F.A. Hayek is important to the ideals of freedom:
F. A. Hayek's writings elegantly disproved socialist and statist micromanaged command-style economies while providing proofs of his own and others' theories regarding the superiority of free market economies.
"Should our moral beliefs really prove to be dependent on factual assumptions shown to be incorrect, it would be hardly moral to defend them by refusing to acknowledge the facts."
- F. A. Hayek.
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