Friedrich Hayek

Friedrich August von Hayek (b. 1899, d. 1992), was an Austrian School economist and political philosopher who argued for free-market capitalism. He and Gunnar Myrdal won the 1974 Nobel Prize in Economics]. He is often seen as one of the architects of neoliberalism. Hayek organised the Mont Pelerin Society and founded the Institute for Economic Affairs. The work for which he is most well-known is The Road to Serfdom (1944), a book in which he argued a society that employs economic planning inevitably becomes authoritarian. His other writings include The Constitution of Liberty (1960) and Law, Legislation and Liberty (1973-1979).