Today, 05:57 AM
Mises Wire
Stephen Anderson
04/02/2024
The year 2024 marks three significant anniversaries for Friedrich August von Hayek, who follows Ludwig von Mises as influential in the Austrian School of Economics. This is the one hundred twenty-fifth year of Hayek’s birth, the fiftieth anniversary of being awarded the Nobel Prize for economic science which he shared with Gunnar Myrdal, and the eightieth anniversary of the publication of his book The Road to Serfdom, which is available in the Mises online store.
Hayek was born in Vienna, Austria, in 1899. He attended the University of Vienna at the age of nineteen after World War I. He earned doctorates in law in 1921 and political science in 1923. In 1922 Mises published his Die Gemeinwirtschaft, later translated as Socialism. “To none of us young men who read the book when it appeared,” Hayek recalled, “the world was ever the same again.” The influence upon Hayek from reading Mises’s Socialism is unknown.
The motivation for the Nobel Prize was “for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena.” This award led to the revival of Austrian economics in 1974 after its wilderness state of the early to mid-twentieth century.
Connect With Us