Abstract
Friedrich August von Hayek, a central figure in 20th-century economics and foremost representative of the Austrian tradition, 1974 Nobel laureate in economics, a prolific author not only in the field of economics but also in the fields of political philosophy, psychology and epistemology, was born in Vienna on 8 May 1899. Following military service as an artillery officer in World War I, Hayek entered the University of Vienna, where he attended the lectures of Friedrich von Wieser and Othmar Spann and obtained doctorates in law and political science. After spending a year in New York (1923–4), Hayek returned to Vienna where he joined the famous Privatseminar conducted by Ludwig von Mises. In 1927 Hayek became the first director of the Austrian Institute for Business Cycle Research. On an invitation from Lionel Robbins, he lectured at the London School of Economics in 1931 and subsequently accepted the Tooke Chair. Hayek soon came to be a vigorous participant in the debates that raged in England during the 1930s concerning monetary, capital, and business-cycle theories and was a major figure in the celebrated controversies with John Maynard Keynes, Piero Sraffa and Frank H. Knight.
Keywords
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
This is a preview of subscription content, log in via an institution.
Buying options
Tax calculation will be finalised at checkout
Purchases are for personal use only
Learn about institutional subscriptionsPreview
Unable to display preview. Download preview PDF.
Bibliography
Gray, H. 1984. Hayek on Liberty. Oxford: Basil Blackwell.
Hutchison, T. W. 1981. The Politics and Philosophy of Economics: Marxians, Keynesians, and Austrians. New York: New York University Press, ch. 7.
Keynes, J. M. 1936. The General Theory of Employment, Interest, and Money, London: Macmillan; New York: Harcourt, Brace.
Machlup, F. 1976. Hayek’s contribution to economics. In Essays on Hayek, ed. F. Machlup, Hillsdale, Mich.: Hillsdale College Press.
Mises, L. von. 1912. The Theory of Money and Credit. New Haven: Yale University Press, 1953.
O’Driscoll, G. 1977. Economics as a Coordination Problem: The Contribution of Friedrich A. Hayek. Kansas City: Sheed Andrews & McMeel.
Editor information
Copyright information
© 1989 Palgrave Macmillan, a division of Macmillan Publishers Limited
About this chapter
Cite this chapter
Garrison, R.W., Kirzner, I.M. (1989). Friedrich August von Hayek. In: Eatwell, J., Milgate, M., Newman, P. (eds) The Invisible Hand. The New Palgrave. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-20313-0_14
Download citation
DOI: https://doi.org/10.1007/978-1-349-20313-0_14
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-0-333-49533-9
Online ISBN: 978-1-349-20313-0
eBook Packages: Palgrave History CollectionHistory (R0)