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About: Friedrich Hayek     Goto   Sponge   NotDistinct   Permalink

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Friedrich August von Hayek CH FBA (/ˈhaɪək/ HY-ək, German: [ˈfʁiːdʁɪç ˈʔaʊɡʊst fɔn ˈhaɪɛk]; 8 May 1899 – 23 March 1992), often referred to by his initials F. A. Hayek, was an Austrian–British economist, legal theorist and philosopher who is best known for his defense of classical liberalism. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for their work on money and economic fluctuations, and the interdependence of economic, social and institutional phenomena. His account of how changing prices communicate information that helps individuals coordinate their plans is widely regarded as an important achievement in economics, leading to his prize.