ABSTRACT
The economist and social philosopher Friedrich August von Hayek (1899-1992) is the last of the figures with whom we shall deal, and perhaps (with a bow to Mill) the most influential of the group. A student of Mises in Vienna, Hayek made significant contributions early in his long career to economic theory: at least for a time his Prices and Production (1931) and Geldtheorie und Konjunkturtheorie (Monetary Theory and the Trade Cycle) (1933) were hailed as major efforts (his contributions only to be eclipsed for a time by the publication in 1936 of John Maynard Keynes’s General Theory of Employment, Interest and Money), and he played a central role in the debate over the efficacy of economic calculation in a socialist organization of production. Yet the scope of his interests was great, as his voluminous writings covered not merely economic theory, but social theory, political and legal philosophy, and even theoretical psychology.
