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Friedrich August Hayek

    May 8, 1899 – March 23, 1992

    Friedrich August von Hayek was an Austrian and British economist and philosopher renowned for his defense of classical liberalism and free-market capitalism against socialist and collectivist thought. He is considered one of the most important economists and political philosophers of the twentieth century. His account of how changing prices communicate signals enabling individuals to coordinate their plans is widely regarded as a significant achievement in economics. Hayek also explored jurisprudence, neuroscience, and the history of ideas, emphasizing the power of individual liberty and market mechanisms in societal organization.

    Friedrich August Hayek
    The Fatal Conceit. The Errors of Socialism.
    Studies on the Abuse & Decline of Reason
    Business Cycles
    Good Money
    Pure Theory of Capital
    The Constitution of Liberty
    • 2024

      Hayek on Mill: The Mill-Taylor Friendship and Related Writings

      The Mill-Taylor Friendship and Related Writings

      • 424 pages
      • 15 hours of reading

      The book features a compilation of correspondence between John Stuart Mill and his wife, Harriet Taylor-Mill, curated by F. A. Hayek. It highlights the connections between Hayek and Mill while presenting Hayek's writings that significantly contributed to the resurgence of interest in Mill's work. This collection not only sheds light on their personal relationship but also enriches the understanding of Mill's philosophy through Hayek's insights, marking a pivotal moment in Mill scholarship.

      Hayek on Mill: The Mill-Taylor Friendship and Related Writings
    • 2024

      Essays on Liberalism and the Economy

      • 630 pages
      • 23 hours of reading

      The collection features a range of Hayek's significant essays alongside unpublished and lesser-known pieces, showcasing his intellectual evolution from 1931 to 1984. It highlights key themes in his work, offering insights into his contributions to economics and political philosophy. This selection provides readers with a comprehensive view of Hayek's ideas and their relevance over time.

      Essays on Liberalism and the Economy
    • 2024

      Law, Legislation, and Liberty

      A New Statement of the Liberal Principles of Justice and Political Economy

      • 564 pages
      • 20 hours of reading

      This new edition compiles F. A. Hayek's influential three-part work into a single volume, exploring the intricate relationship between law, legislation, and individual liberty. Hayek delves into the principles of a free society, emphasizing the importance of spontaneous order and the limitations of government intervention. The text challenges conventional views on law and governance, presenting a profound analysis of the moral and economic implications of legal structures in society.

      Law, Legislation, and Liberty
    • 2023

      Presents the full text of "Capital and Interest," written by Eugen Bohm-Bawerk. The text is provided as part of the collection of online undergraduate course materials for the History of Economic Thought course offered by McMaster University's Department of Economics in Hamilton, Ontario, Canada.

      Capital and Interest
    • 2019

      Friedrich August von Hayek’s draft biography of Ludwig Wittgenstein

      The Text and its History

      • 88 pages
      • 4 hours of reading

      Every student of the twentieth century has heard both of the great Viennese economist Friedrich von Hayek and of the equally great philosopher Ludwig Wittgenstein. But what isn’t well known is that the two were distant cousins and that, shortly after Wittgenstein’s death in 1951, Hayek set out to write a biography of his cousin. The project was derailed by Wittgenstein family members, who felt it was to soon to publish such a work. But Hayek’s draft acquired an underground readership, and Wittgenstein’s biographers have used it extensively. Here finally, is the text of that work itself. Hayek’s account has the great merit of being close to its subject; the draft, moreover sheds light, not only on Wittgenstein but on Hayek as well. Allan Janik’s elegant afterword makes these links clear. Anyone interested in Wittgenstein or, for that matter, in the thought and culture of the earlier twentieth century, will want to read Christian Erbacher’s excellent edition of Hayek’s draft biography. – Marjorie Perloff

      Friedrich August von Hayek’s draft biography of Ludwig Wittgenstein
    • 2018

      Studies on the Abuse & Decline of Reason

      • 331 pages
      • 12 hours of reading

      In 1939, Hayek conceived of a grand project to "incorporate intellectual history, methodology, and an analysis of social problems, all aimed at shedding light on the consequences of socialism." He published the foundational works for this project separately, and this volume collects them all. Editor Bruce Caldwell has provided translations where they were absent and has revised and corrected the text. The introduction, as Caldwell writes, tells "the story of Hayek's greatest unfinished piece of work."

      Studies on the Abuse & Decline of Reason
    • 2017

      Focusing on the theory of mind, the book presents Hayek's groundbreaking ideas on how mental mechanisms classify perceptions beyond physical laws. Initially overlooked by psychologists and social scientists, it is now recognized as crucial for comprehending Hayek's broader contributions. This edition includes the original 1952 text alongside supplementary essays and a 1920 student paper that outlines the foundational concepts later expanded in his seminal work.

      The Sensory Order and Other Writings on the Foundations of Theoretical Psychology
    • 2017

      Business Cycles

      • 360 pages
      • 13 hours of reading

      In the years following its publication, F A Hayeks pioneering work on business cycles was regarded as an important challenge to what was later known as Keynesian macroeconomics. Today, as debates rage on over monetary origins of the current economic and financial crisis, economics are once again paying heed to Hayeks thoughts on the repercussions of excessive central bank interventions. Business Cycles, Part II assembles twelve of Hayeks shorter papers on the topic, ranging from 1920s to 1981, his final word on the subject. They include four previously unpublished works.

      Business Cycles
    • 2012

      Business Cycles

      Part II

      • 360 pages
      • 13 hours of reading

      Focusing on the causes of economic fluctuations, this volume compiles F. A. Hayek's shorter papers on business cycles, spanning from the 1920s to 1981. It provides insights into his analysis of boom and bust periods, showcasing his contributions to economic theory within the context of historical events. This collection serves as a significant resource for understanding Hayek's perspectives on economic dynamics over several decades.

      Business Cycles
    • 2012

      Hayek's most detailed work in economic theory, "The Pure Theory of Capital" has long been overlooked. First published in 1941, it stood in sharp contrast with fashionable economic thought, which had shifted under the influence of John Maynard Keynes. This publication represents Hayek's last major work in economics. This volume offers a detailed account of the equilibrium relationships between inputs and outputs in a time-filled economy. Hayek's stated objective was to make capital theory -- which had previously been devoted almost entirely to the explanation of interest rates -- "useful for the analysis of the monetary phenomena of the real world." His ambitious goal was nothing less than to develop a capital theory that could be fully integrated into business cycle theory. Hayek's manifesto of captial theory is now available again for today's students and economists to discover. The introduction, by Hayek expert Lawrence H White, firmly situates the book in a historical and theoretical context, as well as within Hayek's own life and his struggle to complete the manuscript. It provides important insights into Hayek's theories, the intellectual environment in which he wrote, and the personal context of this important work.

      Pure Theory of Capital