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F.A. Hayek

Friedrich August Hayek (May 8, 1899 – March 23, 1992) was an Austro-Hungarian born economist and philosopher best known for his classical liberal apologetics. In 1974, Hayek was awarded the Nobel Memorial Prize in Economics along with Gunnar Myrdal, “for his pioneering work in the theory of money and economic fluctuations and for his penetrating analysis of the interdependence of economic, social and institutional phenomena.”

Fun Fact: Hayek served as an officer during WWI and then went on to choose economics because of his desire to improve social conditions, namely the poverty of postwar Vienna.

To learn more about economic freedom and other ideas that Hayek proposed, apply to one of our Summer Seminars!

 

Fear of the Boom and Bust - Keynes vs. Hayek Round 1

 

Fight of the Century - Keynes vs. Hayek Round 2

 

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December 2014

Unfortunately, educating people about phenomena that are counterintuitive, not-so-easy to remember, and suggest our individual lack of human control (for starters) can seem like an uphill battle in the war of ideas. So we sally forth into a kind of wilderness, an economic fairyland. We are myth busters in a world where people crave myths more than reality. Why do they so readily embrace untruth? Primarily because the immediate costs of doing so are so low and the psychic benefits are so high.
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