Friedrich August von Hayek

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Signature of Hayek

Friedrich August von Hayek (born May 8, 1899 in Vienna as Friedrich August Edler von Hayek , from 1919 due to the Nobility Repeal Act Friedrich August Hayek ; † March 23, 1992 in Freiburg im Breisgau ) was an economist and social philosopher of Austrian origin. In 1938 he accepted British citizenship as Friedrich August von Hayek . Alongside Ludwig von Mises , he was one of the most important representatives of the Austrian School of Economics . Hayek is one of the most important thinkers of liberalism in the 20th century and is considered by some interpreters to be the most important exponent of neoliberalism , even if he never called himself that. In 1974 he and Gunnar Myrdal received the Alfred Nobel Memorial Prize for Economics .

Life

Hayek 1981

Hayek was the eldest of three sons of the doctor and botany professor at the University of Vienna August von Hayek and his wife Felicitas (née Juraschek). The family came from the small military and civil service nobility and was reasonably wealthy on the mother's side. Via Hayek's maternal grandfather, he was also a great cousin of Ludwig Wittgenstein and the one-armed pianist Paul Wittgenstein . The father of Hayek's mother, Franz von Juraschek , was a professor and was later appointed president of the Central Statistical Commission. Eugen Böhm von Bawerk was a frequent guest in Hayek's family home. In his childhood Friedrich (called Fritz by his parents) was primarily interested in mineralogy , entomology and botany . An interest in fossils and the theory of evolution followed . After military service in World War I (from March 1917) and suffering from malaria , Friedrich August von Hayek officially studied law at the University of Vienna from 1918 , but mainly attended courses in economics and psychology . The lack of direct career opportunities for psychologists prompted him to deepen his economic knowledge, especially with his doctoral supervisor Friedrich von Wieser . With his book The Sensory Order , he was later to submit a work on theoretical psychology.

Hayek, who adhered to Fabian socialism in his youth , was initially enthusiastic about the planned economy ideas of Walther Rathenau ; as a result of reading the book Die Gemeinwirtschaft by Ludwig von Mises , he turned away from socialist ideas. He was a regular participant in a private seminar by Ludwig von Mises, which he was considered to be a model student. He received his doctorate in law in 1921 and political science in 1923. From 1927 they jointly headed the Austrian Institute for Business Cycle Research . Following Mises, Hayek researched in particular the theory of business cycle fluctuations . In 1931 he was appointed to the London School of Economics , where he was considered the most important representative of the Austrian School and opponent of John Maynard Keynes during the 1930s and 1940s . He helped some scientists who emigrated from Nazi Germany to continue their academic careers in Great Britain, including Karl Forchheimer and Richard Schüller . In 1938 he took British citizenship.

Hayek's grave in Vienna

In 1947, Hayek invited 36 scholars close to liberalism to a meeting at Mont Pèlerin in Switzerland , from which the Mont Pelerin Society emerged . Hayek was president from 1947 to 1960, from 1960 honorary president of this organization. In 1950 he moved to the University of Chicago , in 1962 he accepted a professorship at the University of Freiburg im Breisgau and shortly afterwards became a board member of the Walter Eucken Institute (see also Freiburg School ). From 1965 to 1970 he was a member of the Advisory Board of the Friedrich Naumann Foundation . In 1967 he retired , but continued to teach until 1969. In 1974 he and Gunnar Myrdal were jointly awarded the Prize for Economics for “their pioneering work in the field of money and business cycle theory and their in-depth analysis of the relationship between economic, social and institutional phenomena” Swedish Reichsbank awarded. In 1977 and 1981 he visited Chile , where he spoke personally to the dictator Augusto Pinochet, among others , whose regime he then tried to defend in various articles - against his better judgment without reference to the human rights crimes committed under Pinochet . After an honorary professorship at the University of Salzburg , he returned to Freiburg in 1977, where he worked until his death in 1992. In 1991 he was awarded the Presidential Medal of Freedom , the highest civilian honor in the United States. He is buried in Vienna in the Neustift cemetery .

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Contributions to business cycle theory

Prices and Production (1931)

Hayek developed Ludwig von Mises ' business cycle theory further. Prices and Production is the execution of ideas that Hayek had already published in 1928 in his essay The intertemporal price equilibrium and movements in the value of money . In 1974 von Hayek received the Swedish Reichsbank's Economics Prize for prizes and production . His analysis is basically based on traditional equilibrium theory . Knut Wicksell's theory also exerted an influence ; Accordingly, imbalance processes are based on the divergence between the natural interest rate and the interest rate set by the banks (the lending rates deviate from the level that would have arisen in an unaffected capital market). The following considerations are fundamental to von Hayek's business cycle theory: Voluntary saving reduces the demand for consumer goods . The relative price of consumer goods is falling. The capital formation rate rises, which means that the interest rate on money falls. If the cost of capital falls, the investment in more productive means of production becomes more profitable ( Ricardo effect ) . As long as this is based on voluntary saving, the economy strives towards equilibrium.

If the interest rate on money falls below the natural rate of interest as a result of credit expansion , investments in means of production increase. The reduced production of consumer goods is countered by a steady demand. The renunciation of consumer goods leads to “forced saving”, which corresponds to the resources used by the investors. With the price increase caused by this, the economic high has reached a critical point: the prices of consumer goods rise with interest rates now rising. The only solutions for von Hayek are further credit expansion to avoid the decline in the demand for capital goods, or the painful but persistently inevitable process of recession. In the recession, the intersectoral imbalance of the actual demand structure adjusts itself again ( monetary overinvestment theory ). In contrast to monetarism, von Hayek sees the cause of recessions in the interplay of monetary phenomena and the real production structure. Von Hayek saw his work confirmed by the global economic crisis . John Maynard Keynes and Milton Friedman, however, saw Hayek's policy recommendations as harmful and as one of the reasons why the Great Depression turned into a great depression.

Choice in Currency (1976) and Denationalization of Money (1978)

According to Hayek's business cycle theory , the world economic crisis was not, as Keynes claimed, the result of low demand, but of bad investments by companies and banks, which in turn were the result of failed state monetary and economic policies. State intervention in the free market, as Keynes demanded, is not the solution, but the cause of the economic crisis . The inflation policy before 1929 only brought about the collapse.

According to Hayek, business cycles are the result of deviations in the interest rate for money from the “natural interest rate,” that is, the interest rate at which savings and investment balance each other out. There is a difference between the two figures, which must be covered by additional liquidity . This enables companies to finance projects that would not previously have been profitable. As a result, economic output expands more than would have been possible in the natural case. However, the additional liquidity leads to rising prices after a while. If the economic agents adapt to it, interest rates rise. Investment projects that would have paid off at the previous monetary interest rate must be canceled. It comes to a crash.

The late Hayek blames mainly the central banks for deviations in the interest rate, which for political reasons cannot manage to keep the monetary value stable to an extent that can be used to avoid crises. For this reason, he advocates putting the production of means of payment in private hands. With a series of texts ( Denationalization of Money , 1978 and Choice in Currency , 1976), he succeeded in reviving the debate about free banking .

The Road to Serfdom (1944)

Throughout his teaching, Hayek focused on dealing with all forms of socialism . The methodological focus of his work is always the knowledge problem that connects his social science work with his interest in psychology. As early as the 1920s he argued that in a society based on the division of labor, knowledge was also divided and that individual planners could not see the entire system in detail, i.e. that a central administration economy was in principle not functional or at least far inferior to a market economy . He later expanded his theory to include anthropological , cultural and information-theoretical considerations (see below). He did not doubt that some socialists were pursuing morally demanding goals, only he considered the proposed route, in particular any kind of state intervention in the economy, to be dangerous.

1944 appeared Hayek's The Road to Serfdom (dt. The Road to Serfdom ) in England. In this work he explained that National Socialism in Germany and Fascism in Italy were not - as socialist intellectuals claimed - forms of capitalist reaction , but rather “further developments of socialism”. According to Hayek, the aim of the book was to reverse the majority opinion , which was then against liberalism , and to sensitize them to the dangers of socialism. Hayek's main argument is that all kinds of socialism , collectivism and planned economy inevitably contradict liberal individual rights and the rule of law . The tyranny in the totalitarian states - at that time next to Germany and Italy above all the Soviet Union - is therefore not the result of the particular malice of the respective peoples, but the implementation of the socialist teaching of a planned economy. This necessarily leads to repression, even if that was not the original intention of the socialists.

Walter Eucken repeatedly criticized the fact that in the book Hayek did not make a sufficient distinction between a necessary competitive order and pure laissez-faire liberalism, and in a private letter urged in vain to work out the difference more clearly. Hayek later expanded his theory and added that even state interventions that do not initially question the market economy in principle would lead to the abolition of freedom in the long term:

"Political freedom in the sense of democracy, 'inner' freedom, freedom in the sense of the absence of obstacles to the realization of our wishes or even 'freedom from' fear and lack have little to do with individual freedom and are often in conflict with it ... The Freedom, which we are dealing with here, which can only serve as a general principle of politics and which was also the original goal of all liberal movements, consists exclusively in the absence of arbitrary coercion. "

- Friedrich August von Hayek : ORDO - year book for the order of economy and society , volume 1960/61

He said, however, that coercion is necessary if one questions this freedom : "An effective defense of freedom must therefore necessarily be inflexible, dogmatic and doctrinal and must not make any concessions to considerations of expediency."

Hayek felt great sympathy for Ludwig Erhard's achievements in “restoring a free society in Germany”, but rejected the term “social market economy”, even if - as he put it - some of his friends had succeeded thanks to this use of the word Kind of liberal social order that he advocates to make palatable to wider circles. Hayek was by no means on the line of the pioneers of the social market economy like Eucken or Müller-Armack and was in open dispute with Röpke and Riistow . Friedrich Kießling and Bernhard Rieger emphasize an increasing alienation, which was also evident in the Mont Pelerin Society , where two wings were formed. The radicalizing American wing around von Hayek, von Mises and Friedman advocated an “adjective-free” market economy without state intervention . On the other hand stood the German wing, mainly represented by Rustow, Röpke and Müller-Armack, which advocated the social market economy and more active responsibility of the state as a comprehensive social, vital and social policy. These accused the American wing of betrayal of the actual goals of neoliberalism and emphasized the dangers of a morally "blunted and naked economism ". Hayek considered the further development in Germany from the mid-1960s to be too interventionist and warned against socialist tendencies in German economic policy on the occasion of the German edition of The Path to Servitude from 1971.

“We owe the Americans a great enrichment of the language through the characteristic expression weasel-word . Just as the little predator, which we also call a weasel, can supposedly suck all the contents out of an egg without noticing it after the empty shell, so the weasel words are those which, when you add them to a word, create that word deprive of all content and meaning. I believe the weasel word par excellence is the word social . Nobody knows what it actually means. It is only true that a social market economy is not a market economy, a social constitutional state is not a constitutional state, a social conscience is not a conscience, social justice is not a justice - and I'm also afraid that social democracy is not a democracy. "

- Friedrich August von Hayek : Science and Socialism . In: Collected writings in German. Dept. A, essays; Volume 7. Mohr Siebeck, 2004, ISBN 3-16-148062-7 , p. 61 f.

Hayek's criticism was less about appreciating the concept than about the name, which in his opinion would arouse social desires. According to Ralf Ptak , when interpreting the sentence, it should be noted that it was written at the end of the 1970s, “at a time when the market radicalism of neoliberalism was beginning to replace the Keynesian welfare state internationally - Hayek himself advised Margaret Thatcher at this point their neo-liberal restructuring of the economy and the state in Great Britain. ”It is therefore more a matter of settling the social concessions of the models of capitalism practiced up to that point than of dealing with the concept of the social market economy.

Jeffrey Sachs comes to the conclusion that Hayek's claim that high taxes and an extensive welfare state stand in the way of dynamic economic development is empirically untenable. Despite high taxes and social spending , the Scandinavian countries performed better than countries with rather low taxes and social spending on most indicators, including per capita income.

With regard to the international order, Hayek advocates an amalgamation of nation states in a federal state whose powers should be limited to preventing one state from being damaged by another. The federal state should therefore have powers analogous to the “ultra-liberal laissez-faire state”.

The Constitution of Liberty (1960)

For Hayek, a free society therefore presupposes the dominance of an order of the first kind and abstract rules. He therefore advocates a strong restriction and precise definition of the state's options for action by the constitution in order to protect the rights of the individual . He considers that the most important limitation of the state's coercion is that it only takes place according to general rules, but never arbitrarily. The problem is not who rules who, but how much rule the rulers are allowed to exercise. He rejects pure democracy without restrictions on state action because this also tends to be oppressive (“totalitarian democracy”). In this respect one can call his idea of ​​a “constitution of freedom” a nomocracy . Such a system does not preclude economic activity from being regulated if regulation is based on general rules. Hayek rejects laissez-faire . However, certain interventions such as price controls or the attempt to establish social equality are not compatible with a free society.

For Hayek, the tasks of the state include:

Contributions to order theory and evolutionary economics

In addition to economic issues, after the war Hayek mainly dealt with information-theoretical, epistemological, cultural-theoretical and legal-philosophical problems as well as theoretical questions of psychology. After Hayek was appointed to the University of Freiburg, he made contributions to the theory of spontaneous orders . In addition to the theory of complex phenomena and the theory of pattern recognition and prediction, he also published his thoughts on “competition as a discovery process”. Building on this, Hayek contrasted neoclassical thinking with his theory of cultural evolution.

The Presumption of Knowledge (1974)

Hayek shared the opinion of the liberal classics Adam Smith and John Locke , according to which economic order is the undesired result of human action (principle of the " invisible hand "). In particular, because it is impossible to centralize all relevant knowledge about the abilities and needs of individuals, central administration is not feasible, that is, the planning body can never have all the information required for sensible planning. Only the free market shows all relevant information in the price system and leads to meaningful allocations . He accused the "social engineers" who want to plan a society on the drawing board to have "the pretence of knowledge" . This is what his speech at the reception of the Economics Prize was to be called later.

He wrote on the 20th anniversary of the Institute of Economic Affairs in 1977: “I have always been convinced that if we want to retain our economic and political freedom, we should direct our efforts towards the conversion of intellectuals in their capacity as opinion makers have to."

In addition, Hayek discusses the relationship between social reality and economic modeling in this speech. He explicitly argues against the notion that economic models are able to adequately depict the “organized complexity” in the variety of variables involved. Regarding the impossibility of forecasting prices, he says:

“I sometimes wish that our mathematical economists would take that to heart. I must confess that I am still in doubt as to whether your search for measurable quantities contributed significantly to our theoretical understanding of economic phenomena - as opposed to their value as a description of certain situations. "

The essay inspired, among others, the Wikipedia founder Jimmy Wales during his student days.

Law, Law and Freedom (1979)

Hayek expanded his criticism of socialism to include a theory of “cultural evolution ” and human coexistence in societies based on the division of labor , thereby significantly influencing evolutionary economics.

According to Hayek, values ​​are not, or only to a small extent, the result of human design and reason. They come from three roots: the biological “inherited”, the culturally “tried and tested” and only the third and least far-reaching, the rationally “planned”. Grown traditions are therefore extremely effective reproductive and adaptive and are underestimated by social theorists, while the feasibility of an "ideal society" is overestimated. The religions are decisive for the evolution of man because their selection or “natural selection” is not based on rational argumentation, but through reproductive success as a result of religious belief and successful adaptation (adaptation) to the respective environment . Hayek therefore does not consider every religion to be equally successful (he also sees communism as a religion that is already dying away ), but in competition those religious movements that successfully promote reproduction and economic life would always prevail . Hayek therefore regards religious freedom as a central root and an important concern of liberalism . Diverse micro-societies could enter into competition within their framework and thus promote the overall success of the macro-society . On the other hand, monopoly religion is also becoming reactionary .

Hayek distinguishes between two types of orders:

  1. A spontaneous order ("kosmos") in which the individuals pursue their goals with their own means. According to Hayek, it only requires abstract rules that are formulated in the form of prohibitions and must be universally valid, i.e. not allow any privileges.
  2. On the other hand, Hayek calls an organization (“taxis”) the result of conscious design. There are specific rules that are formulated in the form of commandments. The pursuit of individual goals by one's own means is restricted here, and there is often a vertical hierarchy . In an organization, fairness of results is generated at the expense of fairness through redistribution . Examples of this are planned economies, but also companies or the military .

Hayek points out that both kinds of order and rules exist in all forms of society.

According to Hayek, the rules are now subject to a “cultural evolution”. The grown (abstract) rules are not a product of reason, but have developed parallel to reason and have proven themselves over generations. Those groups that introduced abstract rules were more successful (more productive) than others, especially with regard to reproduction . Other groups were then ousted or adopted the successful rules. The best rules would have been enforced again and again through natural evolution.

Hayek sees one of the greatest dangers for freedom in the desire for comprehensive, social commandments and guidelines based on instincts , which have largely remained in small groups from the pre-Christian era . On this point, Hayek agreed with his long-time colleague and friend Karl Popper , who in his book The Open Society and Its Enemies also rejects utopian social science and its theories of planned societies (such as Plato and the Marxists ). Collectivist utopias and drafts of “closed societies” (Popper) would have to fail in modern large societies due to reality or end in barbarism.

methodology

Hayek's methodological approach is similar to that of Karl Popper's critical rationalism . He doubts the competence of the individual mind to make appropriate individual decisions. This fallibility also continues at the methodological level, which is why Hayek rejected an empirical understanding of science and theory. In critical rationalism, however, not only is the human mind viewed as fallible, but also the fallibility of theories. Hayek, however, considered his a priori theories to be infallible. He never tried to empirically test his theories. Hayek justified this by stating that an empirical test was only possible for simple theories, but not for complex phenomena - such as Hayek's work. For Hayek, the degree of falsifiability of a theory decreases as its complexity increases. He warns:

"We have to get rid of the naive superstition that the world should be such that it is possible to discover simple regularities between all phenomena through direct observation, and that this is a necessary prerequisite for the application of scientific methods."

- Friedrich August von Hayek : The theory of complex phenomena. Mohr Siebeck, Tübingen, p. 35.

Such a position is untenable for representatives of critical rationalism and is all the more difficult for them because Hayek wanted to solve practical problems. For advocates of critical rationalism, it is not enough to stop at a per se judgment without testing the concrete effect. The economist Mark Blaug wrote that Hayek's “excuses” for factually disregarding the methodological imperatives of falsification are similar to those of the Marxists he criticizes.

Publications

  • Monetary Theory and Business Theory . Vienna and Leipzig 1929.
  • Prices and Production. 1931
  • The Pure Theory of Capital. 1941
  • The Road to Serfdom. 1944
    • German: The way to bondage . Eugen Rentsch, Erlenbach ZH 1943
  • True and False Individualism, in: ORDO , Volume 1, 1948, pp. 19–55
  • The views of the majority and contemporary democracy, in: Ordo, Volume 15/16, 1962/63, pp. 19–42
  • The presumption of knowledge, in: Ordo, Volume 26, 1973, pp. 12-21
  • The Fatal Conceit: The Errors of Socialism. 1988
    • German: The fatal arrogance. The fallacies of socialism . Mohr-Siebeck, Tübingen 1988, ISBN 3-16-146674-8
  • The Constitution of Liberty , Routledge and Kegan Paul, London 1960
    • German: The constitution of freedom . Translated by Ruth Temper, Dietrich Schaffmeister and Ilse Bieling, Mohr-Siebeck, Tübingen 1991, ISBN 3-16-145844-3
  • Law, legislation and liberty: a new statement of the liberal principles of justice and political economy , Routledge & Kegan Paul, London 1998, ISBN 0-415-09868-8
  • Freiburg Studies: Collected Essays . 2nd edition, Tübingen 1994.
  • The Sensory Order: An Inquiry Into the Foundations of Theoretical Psychology. University of Chicago Press , 1953
    • German: The sensory order. An examination of the foundations of theoretical psychology. Mohr-Siebeck, ISBN 3-16-148379-0
  • Choice in Currency . London 1976 ( iea.org.uk )
  • Denationalization of Money . Institute of Economic Affairs , London 1976 iea.org.uk (PDF; 12.5 MB)

reception

Hayek's intellectual adversary, John Maynard Keynes - with whom he was on friendly terms - rejected both the Austrian's theory of money and economics. After The Road to Serfdom appeared , he wrote a letter to Hayek in which he criticized the economic theories in the book again, but also wrote: “Morally and philosophically, I find myself in agreement with practically everything in it; and not just in agreement, but in a deeply moved agreement. ”He assessed Hayek's work Prices and Production as“ a terrible jumble ”.

Milton Friedman described himself as a great admirer of Hayek, just not of Hayek's economic theories. In particular, Hayek's business cycle theory is rejected by Milton Friedman's Chicago school and the rigid rejection of state intervention during economic crises is considered dangerous and harmful:

“The Hayek-Mises explanation of the business cycle is contradicted by the evidence. It is, I believe, false. "

“The Hayek-Mises business cycle theory is refuted by facts. I believe it is wrong. "

- Milton Friedman : The 'Plucking Model' of Business Fluctuations Revisited, 1993

Joachim Starbatty, on the other hand, considers the heterodox economy of the Austrian school further developed by Hayek , which lies outside the economic mainstream, and in particular the business cycle theory, to be correct.

“But we note that the FA v. Hayek developed the model of the business cycle declaration basically applies and provides us with important information. "

- Joachim Starbatty

According to Joseph Schumpeter , Hayek's liberalism is theoretically a noble concept, but can only be recommended to wealthy self-made gentlemen and slave owners.

Ludwig Erhard took over views from Hayek on the connection between political and economic freedom.

In the 1980s, Hayek's theses found some practical application in the economic policy of Augusto Pinochet , Ronald Reagan (“ Reaganomics ”) and Margaret Thatcher (“ Thatcherism ”), with whose main protagonists he also had various personal exchanges. It happened, however, that many politicians undifferentiated referred to Hayek. "Hayek's status as the figurehead of the new right-wing that was forming at the time did not necessarily help to bring him those followers who would have been worthy of his intellectual level and moral integrity." Hayek refused to take over, but could not entirely prevent it . He himself also contributed to such labels himself with his liberal ideas, which often went to extremes. For example, he rejected development aid, saw the pursuit of a more even distribution of income as incompatible with the rule of law and called for sharp restructuring crises with up to 20% unemployment in order to break inflation.

For Wikipedia founder Jimmy Wales , Hayek's work on price theory was central to his idea of tackling the Wikipedia project.

There is also a productive discussion of Hayek's ideas within the political left. The American economics professor Theodore Burczak has written a much-noticed book about what a socialist economic model could look like that takes Hayek's knowledge problem into account.

His critical recipients also included liberals such as Samuel Brittain, who criticized his view that income redistribution was incompatible with the “rule of market laws” from the point of view of social justice. Hayek, however, advocates a minimum income "below which nobody needs to sink", this minimum security is a natural duty of society. Anarcho-capitalists therefore refer to Hayek's thinking as "social democratic". According to Franz Bydlinski , Hayek's admission is neglected, "although (or because?) It is appropriate to relativize the classification of this author as a radical liberal and thus as a preferred object of exuberant 'left-wing' criticism."

According to David Held , Hayek pleaded for the restriction of state activities to the minimum of an “ultra-liberal” state, similarly interpreted the political scientist Jürgen Hartmann Hayek's work The Constitution of Freedom as a plea for a minimal state . The economist John Kenneth Galbraith understands this work by Hayek as an anachronistic relapse into the world of laissez-faire liberalism of the 19th century. Ingo Pies, on the other hand, takes the view that Hayek systematically rejected laissez-faire liberalism. He wanted “not a minimal state, but a purposefully established constitutional state that pursues economic policy primarily as legislation.” The political scientist Walter Reese-Schäfer is of the opinion that Hayek “in all liberalism the state has a considerably greater role” than in other liberal ones Theories is the case. Christian Watrin believes that Hayek “considers a mere 'minimal state' based on the legal order to be insufficient”. Gerhard Willke sees in Hayek, alongside Milton Friedman , the pioneer and master thinker of the “ neoliberal project ”, an “economic-political project to realize more market, more competition and more individual freedom”. However, Hayek did not call himself a neoliberal. Willke refers to Viktor Vanberg's distinction between early and late works by Hayek: “While in the early work liberal legal reforms and improvements to the framework conditions are still advocated and political design is certainly permitted, the (resigned?) Late work relies entirely on evolution and considers the conscious design to be in vain: Against the dictates of evolution, human planning is not only pointless, but also fatal. "

Awards (excerpt)

Hayek as the namesake

Institutions

Streets

In 1994 the Hayekgasse in Vienna- Floridsdorf (21st district) was named after Hayek. There is a Friedrich-von-Hayek-Straße in Freiburg im Breisgau.

literature

  • Philipp Batthyány: Coercion as a basic evil in society? The concept of coercion in Friedrich August von Hayek (= investigations into order theory and order policy , volume 52). Mohr Siebeck, Tübingen 2007, ISBN 978-3-16-149365-2 (Dissertation University of Munich for Philosophy Munich 2006, XII, 242 pages).
  • Hardy Bouillon: Order, Evolution and Knowledge. Hayek's social philosophy and its epistemological basis. Mohr, Tübingen 1991, ISBN 3-16-145713-7 .
  • Karl-Heinz Brodbeck : The questionable foundations of neoliberalism. Economic order and market in Hayek's theory of rule selection. In: Journal of Politics . 48, 2001, pp. 49-71; 193.174.81.9 (PDF; 83 kB) - slightly corrected version, October 13, 2004.
  • Eamon Butler: Hayek. His Contribution to the Political and Economic Thought of our Time. London 1983.
  • Bruce J. Caldwell: Hayek's Challenge: An Intellectual Biography of FA Hayek. Chicago 2003.
  • Jörg Dötsch. Competitive order as a fragile system. System theoretical considerations on the approach by Friedrich August von Hayeks (supervisor: Peter Oberender), University of Bayreuth, 2012, (online dissertation University of Bayreuth, Faculty of Law and Economics, 2012, 222 pages full text PDF, free of charge, 222 pages, 1185 kB).
  • Richard M. Ebeling: Up from Serfdom: Friedrich A. Hayek and the Defense of Liberty . In: Freedom Daily. August 1992.
  • Alan Ebenstein: Friedrich Hayek: A Biography . University Of Chicago Press, Chicago 2003, ISBN 978-0-226-18150-9 .
  • Andrew Gamble: Hayek - The Iron Cage of Liberty. 1996, ISBN 0-8133-3125-0 .
  • Gerd Habermann (Ed.): Philosophy of Freedom. A Friedrich-August-von-Hayek breviary. Ott, Thun 1999, ISBN 3-7225-6914-1 .
  • Walter Hämmerle : philosopher of freedom . In: Wiener Zeitung . March 22, 2002.
  • Hans Jörg Hennecke : Friedrich August von Hayek. The tradition of freedom. Publishing house economy and finance, Düsseldorf 2000, ISBN 3-87881-145-4 .
  • ders .: Friedrich August von Hayek as an introduction. Junius, Hamburg 2008, ISBN 978-3-88506-655-2 .
  • Erich Hoppmann (Ed.): Friedrich A. von Hayek. Lectures and speeches at the celebratory event of the Freiburg Faculty of Economics on the 80th birthday of Friedrich A. von Hayek. Nomos-Verlagsgesellschaft, Baden-Baden 1982, ISBN 3-7890-0769-2 .
  • Iris Karabelas: Freedom instead of socialism. Reception and significance of Friedrich August von Hayek in the Federal Republic. Campus-Verlag, Frankfurt / New York 2010, ISBN 978-3-593-39289-9 .
  • Wolfgang Kerber (Ed.): The presumption of knowledge. New Freiburg studies by FA von Hayek. Mohr, Tübingen 1996, ISBN 3-16-146402-8 .
  • Ingo Pies : Eucken and von Hayek in comparison. To update the regulatory conception (= studies on the theory of order and policy. 43). Mohr Siebeck, Tübingen 2001, ISBN 3-16-147636-0 .
  • Ingo Pies & Martin Leschke (eds.): FA von Hayek's constitutional liberalism. Mohr Siebeck, Tübingen 2003, ISBN 3-16-148218-2 .
  • Gerard Radnitzky : Hayek and Myrdal. The Nobel Prize shared between two antipodes. In: Criticón , 136, March / April 1993, pp. 81-84; radnitzky.de (PDF; 45 kB).
  • John Raybould: Hayek. A Commemorative Album. London 1998.
  • Christoph Sprich: Hayek's criticism of the rationality assumption and his alternative conception. The sensory order in the light of other epistemologies. Metropolis, Marburg 2008, ISBN 978-3-89518-660-8 .
  • Manfred E. Streit : Knowledge, Competition and Economic System - In memory of Friedrich August von Hayek. In: Hans-Hermann Funke (Ed.): Economic individualism and a liberal constitution. Rombach, Freiburg 1995, ISBN 3-7930-9071-X .
  • Werner Vontobel : Visions of the one-eyed . In: Cicero . March 2005, p. 90 f.
  • Nicholas Wapshott: Keynes Hayek. The Clash that Defined Modern Economics. WW Norton & Company, New York City 2011, ISBN 978-0-393-07748-3 .
  • Andreas K. Winterberger: The foundations of a liberal order. Interview with Friedrich A. von Hayek. In: Zürichsee-Zeitung , December 5, 1981; fahayek.net ( MS Word ; 174 kB).
  • Christoph Zeitler: Spontaneous order, freedom and law. On the political philosophy of Friedrich August von Hayek. Lang, Frankfurt [a. a.] 1995, ISBN 3-631-48897-1 .

Web links

Commons : Friedrich von Hayek  - Collection of images, videos and audio files
Wikiquote: Friedrich August von Hayek  - Quotes

Individual evidence

  1. ↑ Hans Werner Holub: An Introduction to the History of Economic Thought . Part 1: The Austrian School in the 20th Century and the Movements in Socialism in the 20th Century . Volume 5, Part 1: Economics in the 20th Century . LIT Verlag Münster, 2011, ISBN 3-643-50283-4 , p. 152.
  2. ↑ Taylor C. Boas, Jordan Gans-Morse: Neoliberalism: From New Liberal Philosophy to Anti-Liberal Slogan . In: Studies in Comparative International Development . tape 44 , no. 2 , 2009, ISSN  0039-3606 , p. 150 , doi : 10.1007 / s12116-009-9040-5 .
  3. ↑ mises.de (PDF; 3 MB)
  4. ^ Biography Hayek, Friedrich August (von) in the Austria Forum
  5. ↑ Johannes Feichtinger : Science between cultures. Austrian university professors in emigration 1933–1945 . 2001, pp. 221–233 (Chapter Austrian economists in the country of refuge England ), books.google.de .
  6. ↑ Feichtinger (2001), pp. 228-231 books.google.de .
  7. ↑ Feichtinger (2001), p. 222 ff. Books.google.de .
  8. ^ Arno Waschkuhn: Critical Rationalism . 1999, p. 87 in the Google book search.
  9. ↑ No. 34541. The London Gazette , Aug. 12, 1938, p. 5182
  10. ↑ Prize for economics donated by the Swedish Reichsbank in memory of Alfred Nobel : The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1974 . 1974. Retrieved January 6, 2012.
  11. ↑ Bruce Caldwell, Leonidas Montes: Friedrich Hayek and his Visits to Chile . Ed .: Center for the History of Political Economy. SSRN, Montreal 2014, pp. 1-2, 4, 18, 50 ff . ( ssrn.com ).
  12. ↑ a b c Jesús Huerta de Soto : La Escuela Austríaca . Editorial Sintesis, Madrid 2000, ISBN 84-7738-775-3 , p. 119-139 .
  13. ↑ "[...] that a rise in wages will encourage the capitalists to replace work with machines" (FA von Hayek: The Ricardo Effect. In: FA von Hayek: Individualism and economic order. Eugen Rentsch Verlag Erlenbach-Zürich 1952. P. 281 (1942))
  14. ^ J. Bradford DeLong : "Liquidation" Cycles: Old Fashioned Real Business Cycle Theory and the Great Depression . (PDF) National Bureau of Economic Research, Working Paper No. 3546, p. 1 ff
  15. ↑ Lawrence White: Did Hayek and Robbins Deepen the Great Depression? . In: Journal of Money, Credit and Banking . No. 40, 2008, pp. 751-768. doi : 10.1111 / j.1538-4616.2008.00134.x .
  16. ^ FA Hayek: Denationalization of Money . Institute of Economic Affairs , London 1976. pp. 85 f. and p. 97
  17. ↑ Bernd O. Weitz (ed.): Significant economists . Oldenbourg Wissenschaftsverlag, 2008, ISBN 3-486-58222-4 , p. 145.
  18. ↑ Walter Osswalt: Open questions to the reception of the Freiburg School. In: Nils Goldschmidt, Michael Wohlgemuth: Basic texts on the Freiburg tradition of order economics. Mohr Siebeck, 2008, ISBN 978-3-16-148297-7 , p. 128.
  19. ↑ Friedrich Hayek: Principles of a Liberal Social Order: Essays on Political Philosophy and Theory. Part 1, Volume 5. Mohr Siebeck, Tübingen 2002, p. 65.
  20. ^ Bernhard Löffler: Social market economy and administrative practice. Franz Steiner Verlag, 2002, ISBN 3-515-07940-8 , p. 80.
  21. ↑ Martin Nonhoff: Political Discourse and Hegemony: the Project “Social Market Economy”. transcript Verlag, 2006, ISBN 3-89942-424-7 , p. 74.
  22. ^ Bernhard Löffler: Social market economy and administrative practice. Franz Steiner Verlag, 2002, ISBN 3-515-07940-8 , p. 80.
  23. ↑ Friedrich Kießling, Bernhard Rieger: Living with Change: Reorientation and Tradition in the Federal Republic of the 1950s and 60s. Verlag Böhlau, Cologne 2011, ISBN 978-3-412-20649-9 , p. 57.
  24. ↑ Ralf Ptak : From Ordoliberalism to Social Market Economy: Stations of Neoliberalism in Germany. VS Verlag, November 28, 2003, ISBN 3-8100-4111-4 , p. 18.
  25. ↑ Jeffrey Sachs : The Social Welfare State, beyond Ideology . In: Scientific American, November 2006.
  26. ↑ Jochen Hoffmann: Theory of International Business Law. Mohr Siebeck, 2009, ISBN 3-16-150032-6 , p. 37. Originally from Hayek: The way to servitude . Olzog Verlag GmbH, 2009, ISBN 3-7892-8262-6 , p. 286.
  27. ^ FA Hayek: The constitution of freedom . JCB Mohr, Tübingen 1971, p. 186 ff.
  28. ^ FA Hayek: The constitution of freedom . JCB Mohr, Tübingen 1971, p. 294 ff.
  29. ^ Karl Socher: The tasks of the state after Hayek . In: Reinhard Neck (Ed.): The Austrian School of Economics. Volume 4 of the Karl Popper Foundation Series of publications. Verlag Peter Lang, 2008, ISBN 3-631-54668-8 , p. 179 ff.
  30. ^ Lawrence H. White, The Clash of Economic Ideas: The Great Policy Debates and Experiments of the Last Hundred Years . Cambridge University Press, 2012, ISBN 978-1-107-37877-3 ( google.com [accessed September 28, 2015]).
  31. ↑ Guido Schröder: FA von Hayek's methodology for analyzing social problems in economics. In: Ingo Pies, Martin Leschke: FA von Hayek's constitutional liberalism. Mohr Siebeck, 2003, ISBN 978-3-16-148218-2 , p. 239.
  32. ↑ FA Hayek: The theory of complex phenomena. Mohr Siebeck, Tübingen, p. 18.
  33. ↑ Guido Schröder: FA von Hayek's methodology for analyzing social problems in economics. In: Ingo Pies, Martin Leschke: FA von Hayek's constitutional liberalism. Mohr Siebeck, 2003, ISBN 978-3-16-148218-2 , p. 237.
  34. ↑ various new editions; Excerpts from: Martin Morgenstern , Robert Zimmer Ed .: Foundations of the State and Meaning of History. Series Meeting Point Philosophy, 4: Political Philosophy . Bayerischer Schulbuch Verlag BSV, Munich 2001 ISBN 3-7627-0325-6 & Patmos, Düsseldorf 2001 ISBN 3-491-75641-3 , pp. 35–37 "Material equality leads to the destruction of freedom"
  35. ↑ The book is significantly influenced by William Warren Bartley , see Alan Ebenstein: The Fatal Deceit. (No longer available online.) In: Liberty. Volume 19, No. 3 March 2005, archived from the original on 11 October 2010 ; Retrieved December 19, 2012 . and may even have been written in full by Bartley in the published version, not by Hayek, see Karl Popper, a Centenary Assessment. Vol. 1: Life and Times, and Values ​​in a World of Facts , p. 120
  36. ^ Admonitions from a Liberal. Deutschlandradio, July 11, 2010.
  37. ↑ "frightful muddle", see Sylvia Nasar: Grand Pursuit: The Story of Economic Genius. Simon & Schuster, 2011, ISBN 978-0-684-87298-8 , p. 334.
  38. ↑ “an enourmous admirerer of Hayek, but not for his economics”, see Sylvia Nasar: Grand Pursuit: The Story of Economic Genius. Simon & Schuster, 2011, ISBN 978-0-684-87298-8 , p. 334.
  39. ↑ Milton Friedman : The Plucking Model of Business Fluctuations Revisited . In: Economic Inquiry . April 1993, p. 171-177 . discussed in Mark Skousen: Vienna & Chicago, friends or foes ?: a tale of two schools of free-market economics . Capital Press / Regnery Pub, 2005, ISBN 978-0-89526-029-1 .
  40. ↑ Hayek and the "Bubble Economy" ( Memento of the original from October 11, 2010 in the Internet Archive ; PDF; 204 kB) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot /wirtschaft.wiweb.at
  41. ↑ Christoph Butterwegge, Bettina Lösch, Ralf Ptak: Neoliberalismus. 1st edition. VS Verlag für Sozialwissenschaften, 2008, ISBN 978-3-531-15186-1 , p. 120.
  42. ↑ Patricia Commun: Introduction: Ludwig Erhard (1897–1977) . In: Nils Goldschmidt, Michael Wohlgemuth (Hrsg.): Basic texts on the Freiburg tradition of order economics. Volume 50 of investigations into order theory and order policy, Verlag Mohr Siebeck, 2008, ISBN 3-16-148297-2 , p. 499.
  43. ↑ Hans W. Holub: An introduction to the history of economic thinking 1: The Austrian school in the 20th century and the currents in socialism of the 20th century. Lit Verlag, 2011, ISBN 978-3-643-50283-4 , p. 173.
  44. ^ Katherine Mangu-Ward: Wikipedia and Beyond Jimmy Wales' sprawling vision. In: Reason Magazine , June 2007.
  45. ↑ Theodore Burczak: Socialism After Hayek (Advances in Heterodox Economics) . The University of Michigan Press, Ann Arbor 2006; Virgil Henry Storr: Review of Theodore A. Burczak's Socialism after Hayek. In: Review of Austrian Economics , Volume 20, 2007, pp. 313-316.
  46. ^ Gerhard Willke: Neoliberalismus . Campus, Frankfurt am Main 2003, p. 126.
  47. ↑ Frieder Neumann: Justice and Basic Income: A Justice Theoretical Analysis of Selected Basic Income Models. Volume 163 of political science, LIT Verlag Münster, 2009, ISBN 3-643-10040-X , p. 46.
  48. ↑ Gerd Habermann : Hayek's Utopism . In: Yearbook for the Order of Science and Society (ORDO). Volume 55, Lucius & Lucius DE, 2004, ISBN 3-8282-0275-6 , p. 120.
  49. ^ Franz Bydlinski: Fundamental legal principles: to the legal ethical constitution of the society. Springer 1988, ISBN 3-211-82042-6 , p. 208.
  50. ^ David Held: Democracy and the Global Order . Stanford University Press, Stasnford 1995, p. 243 .
  51. ↑ Georg W. Oesterdiekhoff (Ed.): Lexicon of sociological works. Wiesbaden, Westdeutscher Verlag, 2001, p. 281.
  52. ↑ Iris Karabelas: Freedom instead of socialism: Reception and significance of Friedrich August von Hayek in the Federal Republic. Campus Verlag, 2010, p. 57.
  53. ↑ Ingo Pies: Regulatory Policy in Democracy: An Economic Approach to Discursive Policy Advice. Mohr Siebeck Verlag, 2000, ISBN 3-16-147507-0 , p. 31.
  54. ^ Walter Reese-Schäfer: Political theory of the present in fifteen models. Oldenbourg, Munich 2005, ISBN 3-486-57930-4 , p. 17.
  55. ^ Christian Watrin: State tasks in a free society. In: Helmut Leipold, Henrik Armbrecht (Eds.): Ordnungsökonomik as a current challenge. Volume 78 of publications on regulatory issues in the economy, Lucius & Lucius DE, 2005, ISBN 3-8282-0319-1 , p. 76.
  56. ^ Gerhard Willke: Neoliberalismus. Campus, ISBN 3-593-37208-8 , p. 107.
  57. ^ Gerhard Willke: Neoliberalismus. Campus, ISBN 3-593-37208-8 , p. 28.
  58. ^ Gerhard Willke: Neoliberalismus. Campus, Frankfurt am Main 2003, p. 115.
  59. ^ Deceased Fellows. British Academy, accessed June 8, 2020 .
  60. ↑ List of all decorations awarded by the Federal President for services to the Republic of Austria from 1952 (PDF; 6.9 MB)
  61. ↑ According to the company's website
  62. ↑ Foundation's website (accessed June 13, 2009)
  63. ↑ General information. In: Friedrich A. von Hayek Gesellschaft e. V. September 3, 2015, accessed May 20, 2019 .
This version was added to the list of articles worth reading on October 7, 2005 .
personal data
SURNAME Hayek, Friedrich August von
ALTERNATIVE NAMES Hayek, Friedrich August Edler von (full name); Hayek, Friedrich August; Hayek, Friedrich A .; Hayek, Friedrich
BRIEF DESCRIPTION Austrian economist and Nobel Prize winner
DATE OF BIRTH May 8, 1899
PLACE OF BIRTH Vienna
DATE OF DEATH March 23, 1992
Place of death Freiburg in Breisgau