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Hayek, Friedrich
Friedrich Hayek (1899–1992) was an important twentieth-century political theorist who played a key role in the revival of classical liberalism after World War II and was subsequently influential in the 1980s during the administrations of U.S. President Ronald Reagan and British Prime Minister Margaret Thatcher.
Education and Early Career
Hayek studied law and economics at the University of Vienna, where he worked with Friedrich von Wieser. He subsequently spent a short period in the United States and then returned to Vienna where he worked with and was influenced by Ludwig von Mises. Hayek in his earlier years was sympathetic to moderate Fabian socialism. Von Mises’s criticism of the feasibility of socialism in his article on the problems of economic calculation under socialism, and in his large ...
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