Friedrich August von Hayek CH (8 May 1899 – 23 March 1992) was an Austrian-British economist and political philosopher known for his defense of classical liberalism and free-market capitalism against socialist and collectivist thought in the mid-20th century. He is considered to be one of the most important economists and political philosophers of the twentieth century. One of the most influential members of the Austrian School of economics, he also made significant contributions in the fields of jurisprudence and cognitive science. He shared the 1974 Nobel Prize in Economics with ideological rival 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.” He also received the U.S. Presidential Medal of Freedom in 1991. He is considered to be one of the major forces of change from the dominant interventionist and Keynesian policies of the first part of the 20th century back towards classical liberalism after the 1980s.