Friedrich August von Hayek

was an Austrian economist and an influential voice for a liberal order of economy and society. Hayek, who won the Nobel Memorial Prize in Economic sciences in 1974, worked on monetary- and theories of economic activity as well as on social philosophy. In 1950, Hayek became professor at the university of Chicago and founder of the Chicago School of Economics (jointly with Milton Friedman, Frank Hyneman Knight and George Stigler). His economic and philosophical thinking strongly influenced politicians like Ronald Reagan, Margret Thatcher and Wolfgang Schäuble.


Central Works:

  • Monetary Theory and the Trade Cycle
  • The Road to Serfdom
  • The Constitution of Liberty

The ideas of Friedrich August von Hayek influenced the following concepts: