Great Economists · Modern
Friedrich Hayek
The Austrian economist who argued that prices are a communication system no planner can replace. The knowledge problem, spontaneous order, the 1930s duel with Keynes, *The Road to Serfdom*, and his Nobel and political afterlife.
Step 1 of 6 · Overview35 min read ·
Key idea
Prereqs: Supply & demand; Adam Smith; Keynes. Next: Joseph Schumpeter. Sources: Hayek's 'The Use of Knowledge in Society' (*American Economic Review*, 1945), *The Road to Serfdom* (1944), Nicholas Wapshott's *Keynes Hayek*; Marginal Revolution University.Next: 1. Life