Lesson 4 of 10Module 2 · 0% of course
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.

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Episode 15: Hayek’s Powerful Critique of Socialism and Central Planning Foundation for Economic Education · 36 min
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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
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