Our apologies to those who came expecting the usual morning laugh but today , May 8th , for Friedrich A Von Hayek’s birthday , we have chosen to honor him throughout our daily posts , thus we present for your enjoyment an animated biography of one of the world’s greatest thinkers .
” This is a project of the famous free market economist Friedrich von Hayek who lived a very long time. Enjoy!
Created at http://goanimate.com/ ”
” Friedrich August Hayek ; 8 May 1899 – 23 March 1992), born in Austria-Hungary as Friedrich August von Hayek and frequently known as F. A. Hayek, was an Austrian, later turned British,[1] economist and philosopher best known for his defense of classical liberalism. In 1974, Hayek shared the Nobel Memorial Prize in Economic Sciences (with Gunnar Myrdal) for his “pioneering work in the theory of money and economic fluctuations and … penetrating analysis of the interdependence of economic, social and institutional phenomena”.[2]
Hayek is an economist[3] and major political thinker of the twentieth century.[4] Hayek’s account of how changing prices communicate information which enables individuals to coordinate their plans is widely regarded as an important achievement in economics.[5] He also contributed to the fields of systems thinking, jurisprudence, neuroscience, and the history of ideas.[6]
Hayek served in World War I and said that his experience in the war and his desire to help avoid the mistakes that had led to the war led him to his career. Hayek lived in Austria, Great Britain, the United States and Germany, and became a British subject in 1938. He spent most of his academic life at the London School of Economics (LSE), the University of Chicago, and the University of Freiburg.
In 1984, he was appointed as a member of the Order of the Companions of Honour by Queen Elizabeth II on the advice of Prime Minister Margaret Thatcher for his “services to the study of economics”.[7] He was the first recipient of the Hanns Martin Schleyer Prizein 1984.[8] He also received the US Presidential Medal of Freedom in 1991 from president George H. W. Bush.[9] In 2011, his articleThe Use of Knowledge in Society was selected as one of the top 20 articles published in the American Economic Review during its first 100 years.[10]“
” If any twentieth-century economist was a Renaissance man, it was Friedrich Hayek. He made fundamental contributions in political theory, psychology, and economics. In a field in which the relevance of ideas often is eclipsed by expansions on an initial theory, many of his contributions are so remarkable that people still read them more than fifty years after they were written. Many graduate economics students today, for example, study his articles from the 1930s and 1940s on economics and knowledge, deriving insights that some of their elders in the economics profession still do not totally understand. It would not be surprising if a substantial minority of economists still read and learn from his articles in the year 2050. In his book Commanding Heights, Daniel Yergin called Hayek the “preeminent” economist of the last half of the twentieth century.”
The Friedrich Hayek Quote Page
Biography of F. A. Hayek (1899-1992)Mises.org
Friedrich Hayek (Stanford Encyclopedia of Philosophy)
F. A. Hayek | Libertarianism.org
BBC News – Masters of Money: Friedrich Hayek
F.A. Hayek - Encyclopedia Britannica
BBC News – Keynes v Hayek: Two economic giants go head to head
Friedrich von Hayek Nobel Prize Winner
1920–1929
- Monetary Theory and the Trade Cycle (1929) [1]
1930–1939
- Prices and Production (1931) [2]
- Monetary Nationalism and International Stability (1937) [3]
- Profits, Interest and Investment (1939) [4]
1940–1949
- The Pure Theory of Capital (1941) ISBN 978-0-226-32099-1 [5]
- The Road to Serfdom (1944) ISBN 978-0-226-32055-7
- Individualism and Economic Order (1948) ISBN 978-0-226-32093-9 [6]
1950–1959
- “The Transmission of the Ideals of Economic Freedom,” (1951) Full Article
- John Stuart Mill and Harriet Taylor: Their Friendship and Subsequent Marriage (1951) ISBN 978-0-678-06504-4
- The Counter-Revolution of Science: Studies on the Abuse of Reason (1952) ISBN 978-0-913966-67-9
- The Sensory Order: An Inquiry into the Foundations of Theoretical Psychology (1952) ISBN 978-0-226-32094-6
- The Political Ideal of the Rule of Law (1955)
1960–1969
- The Constitution of Liberty (1960) ISBN 978-0-226-32084-7
- The Constitution of Liberty: The Definitive Edition (2011). Ronald Hamowy, ed., v. 17, The Collected Works of F A. Hayek. Description and preview.
- Studies in Philosophy, Politics and Economics (1967) ISBN 978-0-226-32085-4
- Freiburger Studien: Gesammelte Aufsatze (1969) ISBN 978-3-16-146312-9
1970–1979
- A Tiger by the Tail (1972, revised edition 1978)[7]
- Law, Legislation and Liberty: A New Statement of the Liberal Principles of Justice and Political EconomyDenationalisation of Money: An Analysis of the Theory and Practice of Concurrent Currencies (1976) [8]
- Volume I. Rules and Order (1973) ISBN 978-0-226-32086-1
- Volume II. The Mirage of Social Justice (1976) ISBN 978-0-226-32083-0
- Volume III. The Political Order of a Free People (1979) ISBN 978-0-226-32090-8
- New Studies in Philosophy, Politics, Economics and the History of Ideas (1978) ISBN 978-0-226-32069-4
1980–1989
- 1980s Unemployment and the Unions (1980) ISBN 978-0-255-36173-6
- The Fatal Conceit: The Errors of Socialism (1988) ISBN 978-0-226-32069-4
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” After going back and forth, the government of Cyprus ultimately decided, under international pressure, to go ahead with its plan to raid people’s bank accounts. But could similar policies be imposed in other countries, including the United States?
One of the big differences between the United States and Cyprus is that the U.S. government can simply print more money to get out of a financial crisis. But Cyprus cannot print more euros, which are controlled by international institutions.
Does that mean that Americans’ money is safe in banks? Yes and no. The U.S. government is very unlikely to just seize money wholesale from people’s bank accounts, as is being done in Cyprus. But does that mean that your life savings are safe? No. There are more sophisticated ways for governments to take what you have put aside for yourself and use it for whatever politicians feel like using it for. If they do it slowly but steadily, they can take a big chunk of what you have sacrificed for years to save before you are even aware, much less alarmed.”
—
“ Peter Lewin posted some very interesting commentary of Richard Epstein’s distinguished scholar lecture at on-going Southern Economics Association (SEA) meeting. I had the opportunity to hear Epstein several years ago at the Association of Private Enterprise Education meeting and hardily agree with Peter’s assessment that “To hear Epstein talk is awe-inspiring. Hard to describe. Always without notes he delivers intricate, clever, funny, insightful prose without hesitation, seamlessly weaving his web of logic, backwards and forward, while making knockdown points.”
Distinguished Guest Lecture:
“The Implications of the Recent Election for Economic Freedom”
Richard Epstein
The University of Chicago
Law School
Friday, November 16th
at 5pm
Peter’s summary:
” This afternoon I heard Richard Epstein talk on the implications of the recent election for the economy. He gave the annual distinguished scholar lecture as the SEA meetings. To hear Epstein talk is awe-inspiring. Hard to describe. Always without notes he delivers intricate, clever, funny, insightful prose without hesitation, seamlessly weaving his web of logic, backwards and forward, while making knockdown points. “
“Had he not passed away at the tender age of 92 in 1973, Ludwig von Mises would have turned 131 years old today(ed. note Sept 29th). In my humble opinion, he was the greatest social thinker of the twentieth century. In a series of breakthrough contributions like The Theory of Money and Credit, Socialism: An Economic And Sociological Analysis, Human Action (his magnum opus), and Theory and History–to say nothing of a series of smaller and no-less-insightful works like Bureaucracy and Omnipotent Government–Mises developed theories of economic growth and business cycles that are relevant today. One of the wonders of the modern world is that his major contributions are available to be perused or downloaded from the institute bearing his name or from the Liberty Fund. Today, anyone with access to an internet connection can access his works with little or no trouble. Anyone with a USB drive can carry his greatest works on a keychain.
The progress that made this possible wasn’t an accident, and it wasn’t random. Indeed, this brings us to Mises’s greatest contribution: his demonstration that socialism cannot function as a rational economic system and that private ownership of the means of production is necessary if value is going to be maximized and waste is going to be minimized in the production process.”
” Friedman, indeed, is one of the few scholars whose receipt of the Nobel Prize in Economics – which he received in 1976 – did at least as much to bestow prestige on that award as that award did to bestow prestige on him. (The first Nobel
Prize in Economics wasn’t awarded until 1969.)
Friedman’s stupendous scholarly achievements alone justify commemoration of the centenary
of his birth. But at least as important as Friedman’s scholarship was his lucid and energetic public advocacy of limited government and free
markets. He explained with unmatched clarity how a modern economy’s complexities,nuances, and dynamism almost always thwart even the best-intentioned efforts by government officials to intervene into markets. “
