Anglo-Austrian economist and philosopher best known for his defense of classical liberalism.
~ Aristotle Sabouni
Facts[edit | edit source]
- Friedrich August von Hayek (1899.05.08 – 1992.03.23)
- Hayek shared the 1974 Nobel Economic Prize 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".
- In English: we knew socialism fails. He showed why Socialism fails: the dispersed knowledge problem -- that the people on the bottom know more than the people on the top about the specifics of issues, so the more you have to push up the chain for decision making, the more errors and delays will be introduced.
Articles[edit | edit source]
Hayek • [2 items]
|Ends and means|
- Wikipedia:F.A. Hayek
- Wikipedia:Dispersed knowledge
- The Use of Knowledge in Society: https://www.kysq.org/docs/Hayek_45.pdf
Tags: People Libertarian