The following two audio clips are from Friedrich August von Hayek (May 8, 1899 - March 23, 1992), who was an Austrian-British economist and political philosopher. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for work on money and economic fluctuations, and how prices communicate information. His seminal work, "The Road to Serfdom," has been republished many times over the eight decades since its original publication.

The Pure Theory of Capital, F. A. Hayek's long-overlooked, little-understood volume, was his most detailed work in economic theory. Originally published in 1941 when fashionable economic thought had shifted to John Maynard Keynes, Hayek's manifesto of capital theory is now available again for today's students and economists to discover.With a new introduction by Hayek expert Lawrence H. White, who firmly situates the book not only in historical and theoretical context but w...

In addition to his groundbreaking contributions to pure economic theory, F. A. Hayek also closely examined the ways in which the knowledge of many individual market participants could culminate in an overall order of economic activity. His attempts to come to terms with the “knowledge problem” thread through his career and comprise the writings collected in the fifteenth volume of the University of Chicago Press’s Collected Works of F. A. Hayek series.The Market and Other Orders...

From the $700 billion bailout of the banking industry to president Barack Obama’s $787 billion stimulus package to the highly controversial passage of federal health-care reform, conservatives and concerned citizens alike have grown increasingly fearful of big government.The Constitution of Liberty is considered Hayek's classic statement on the ideals of freedom and liberty, ideals that he believes have guided—and must continue to guide—the growth of Western civilization. ...

Studies on the Abuse and Decline of Reason is a series of fascinating essays on the study of social phenomena. How to best and most accurately study social interactions has long been debated intensely, and there are two main approaches: the positivists, who ignore intent and belief and draw on methods based in the sciences; and the nonpositivists, who argue that opinions and ideas drive action and are central to understanding social behavior. F. A. Hayek's opposition to the positi...

A new edition of F. A. Hayek's three-part opus Law, Legislation, and Liberty, collated in a single volumeIn this critical entry in the University of Chicago's Collected Works of F. A. Hayek series, political philosopher Jeremy Shearmur collates Hayek's three-part study of law and liberty and places Hayek's writings in careful historical context. Incisive and unrestrained, Law, Legislation, and Liberty is Hayek at his late-life best, making it essen...

PREFACE AND ACKNOWLEDGMENTSEDITOR'S INTRODUCTIONINTRODUCTIONTHE MONETARY POLICY OF THE UNITED STATES AFTER THE RECOVERY FROM THE 1920 CRISIS (1925)SOME REMARKS ON THE PROBLEM OF IMPUTATION (1926)ON THE PROBLEM OF THE THEORY OF INTEREST (1927)INTERTEMPORAL PRICE EQUILIBRIUM AND MOVEMENTS IN THE VALUE OF MONEY (1928)THE FATE OF THE GOLD STANDARD (1932)CAPITAL CONSUMPTION (1932)ON 'NEUTRAL MONEY' (1933)

Combines all three volumes of Hayek's comprehensive study of the basic principles of the political order of free society: Rules and Order, The Mirage of Social Justice and The Political Order of a Free Society. 'A careful and brilliant statement of the conditions of human freedom. It is a major work of political and economic philosophy which sets terms that neither its friends or critics can ignore.' - THES

The Nobel Prize-winning economist explores how the mind works—an early landmark in the field of cognitive science.The Sensory Order, first published in 1952, sets forth F. A. Hayek's classic theory of mind in which he describes the mental mechanism that classifies perceptions that cannot be accounted for by physical laws. Though Hayek is more commonly known as an icon in the field of economics, his genius was wide-ranging—and his contribution to theoretica...

"One of the great political works of our time . . . The twentieth-century successor to John Stuart Mill's essay 'On Liberty.'" — NewsweekConservatives and concerned citizens alike have grown increasingly fearful of big government. Enter Nobel Prize–winning economist and political theorist F. A. Hayek, whose passionate warning against empowering states with greater economic control, The Road to Serfdom, became an overnight sensatio...

From a Nobel Laureate economist, essays on classical liberalism as illustrated by the Austrian school of political economy.The Reagan and Thatcher "revolutions." The collapse of Eastern Europe dramatically captured in the tearing down of the Berlin Wall. F. A. Hayek, "grand old man of capitalism" and founder of the classical liberal, free-market revival which ignited and inspired these world events, forcefully predicted their occurrence in writings such as The R...

"These essays . . . bring great learning and . . . intelligence to bear upon economic and social issues of central importance to our era." —Henry Hazlitt, NewsweekIn this collection of writings, Nobel laureate Friedrich A. Hayek discusses topics from moral philosophy and the methods of the social sciences to economic theory as different aspects of the same central issue: free markets versus socialist planned economies. First published in the 1930s and 40s, ...