Hayek served in World War I and said that his experience in the war and his desire to help avoid the mistakes that had led to the war led him to his career.

Although Hayek only met Wittgenstein on a few occasions, Hayek said that Wittgenstein's philosophy and methods of analysis had a profound influence on his own life and thought.

Hayek said about his experience: " The decisive influence was really World War I.

' This ', she said sternly, ' is what we believe ', and banged Hayek down on the table ".

Writing to The Times, Hayek said, " May one who has devoted a large part of his life to the study of the history and the principles of liberalism point out that a party that keeps a socialist government in power has lost all title to the name ' Liberal '.

Hayek stated that if the Conservative leader had said " that free choice is to be exercised more in the market place than in the ballot box, she has merely uttered the truism that the first is indispensable for individual freedom while the second is not: free choice can at least exist under a dictatorship that can limit itself but not under the government of an unlimited democracy which cannot ".

Asked about the liberal, non-democratic rule by a Chilean interviewer, Hayek is translated from German to Spanish to English as having said, " As long term institutions, I am totally against dictatorships.

For his part, Hayek dedicated a collection of papers, Studies in Philosophy, Politics, and Economics, to Popper and, in 1982, said that " ever since his Logik der Forschung first came out in 1934, I have been a complete adherent to his general theory of methodology.

Randy Cordova of the Arizona Republic said the film " sports " Cruz and her co-star Salma Hayek as the " lusty dream team " and that they were the " marketing fantasy " for the film.

Writing in 1944, the liberal Austrian economist Friedrich Hayek said of the change in political attitudes that had occurred since the Great War: " Perhaps nothing shows this change more clearly than that, while there is no lack of sympathetic treatment of Bismarck in contemporary English literature, the name of Gladstone is rarely mentioned by the younger generation without a sneer over his Victorian morality and naive utopianism ".

Friedrich Hayek said: " Perhaps the government of Sir Henry Campbell-Bannerman ... should be regarded as the last Liberal government of the old type, while under his successor, H. H. Asquith, new experiments in social policy were undertaken which were only doubtfully compatible with the older Liberal principles ".

Hayek himself praised the work, as did fellow Nobel Prize laureate Milton Friedman, who said that Hazlitt's description of the price system, for example, was " a true classic: timeless, correct, painlessly instructive.

In his 1994 " autobiographical dialog " Friedrich Hayek stated " I have always said that I am in favor of a minimum income for every person in the country.

" The Labour leader Clement Attlee responded in his election broadcast by claiming that what Churchill had said was the " second-hand version of the academic views of an Austrian professor, Friedrich August von Hayek.

Following his retirement, Hayek spent a year as a visiting professor of philosophy at the University of California, Los Angeles, where he continued work on Law, Legislation and Liberty, teaching a graduate seminar by the same name and another on the philosophy of social science.

* The Ludwig von Mises Institute holds a lecture named after Hayek every year at its Austrian Scholars Conference and invites notable academics to speak about subjects relating to Hayek's contributions to the Austrian School.

Later that year Fisher visited Hayek at the London School of Economics.

In his review ( collected in The Present as History, 1953 ) Marxist Paul Sweezy joked that Hayek would have you believe that if there was an over-production of baby carriages, the central planners would then order the population to have more babies instead of simply warehousing the temporary excess of carriages and decreasing production for next year.

Fisher sought out Hayek that year at the London School of Economics where he taught and talked about his plans to go into politics.

It was first proposed by Ludwig von Mises in 1920 and later expounded by Friedrich Hayek.

In his later years, Hayek recalled a discussion of philosophy with Wittgenstein, when both were officers during World War I.

After Wittgenstein's death, Hayek had intended to write a biography of Wittgenstein and worked on collecting family materials, and he later assisted biographers of Wittgenstein.

Hayek later sent him a Russian translation of The Road to Serfdom.

When, later that evening, Hayek was dropped off at the Reform Club, he commented: " I've just had the happiest day of my life.

Hayek used this body of work as a starting point for his own interpretation of the business cycle, elaborating what later became known as the " Austrian Theory of the Business Cycle ".

In accordance with the reasoning later outlined in his essay The Use of Knowledge in Society ( 1945 ), Hayek argued that a monopolistic governmental agency like a central bank can neither possess the relevant information which should govern supply of money, nor have the ability to use it correctly.

* The Cato Institute named its lower level auditorium after Hayek, who had been a Distinguished Senior Fellow at Cato during his later years.

The founders of this école who studied and later instructed at the University of Vienna included Carl Menger, Eugen von Böhm-Bawerk, Friedrich von Wieser, Joseph Schumpeter, Ludwig von Mises and Friedrich Hayek.

Hayek christened these the pragmatic and rationalist schools, the former evolving institutions with an eye towards liberty and the later creating a brave new world by sweeping all the old and therefore useless ideas away.

Spencer anticipated many of the analytical standpoints of later libertarian theorists such as Friedrich Hayek, especially in his " law of equal liberty ", his insistence on the limits to predictive knowledge, his model of a spontaneous social order, and his warnings about the " unintended consequences " of collectivist social reforms.

Hayek later discussed on camera an anecdote of her Mexican great-grandmother spontaneously breast-feeding a hungry baby in a village.

Two years later this holding company was taken over by a group of private investors led by Nicolas Hayek.

The Austrian School of Economics, led by Carl Menger, Ludwig von Mises and Friedrich Hayek, would later refine the concept and use it as a centerpiece in its social and economic thought.

First discussed by Ludwig von Mises, Catallaxy was later coined and made popular by Friedrich Hayek who defines it as follows:

Lebanese entrepreneur, Nicolas G. Hayek, who, with a group of Swiss investors, took over a majority shareholding of Swatch during 1985 in the then, between ASUAG and SSIH, newly consolidated group under the name Societe Suisse de Microelectronique et d ' Horlogerie, or SMH, became Chairman of the Board of Directors and CEO in 1986 ( who later significantly changed its name to Swatch Group ), further masterminded its development to reach its now major worldwide Swiss watch brand status within the lower end of watch prices.

It was first proposed by Ludwig von Mises in 1920 and later expounded by Friedrich Hayek.

Hayek and later Austrian School economists agree that if a population saves more money, total revenues for companies will decline, but they deny the assertion that lower revenues lead to lower economic growth.

Hayek, and Richard M. Weaver were the first faculty advisors, later to be joined by George Stigler and Benjamin Rogge.

There was a revival of interest in classical liberalism in the 20th century led by Friedrich Hayek and Milton Friedman.

This difficulty was notably written about by economists Ludwig von Mises and Friedrich Hayek, both of whom called it the " economic calculation problem ".

Part of the reason that Hayek stressed the knowledge problem was also because he was mainly concerned with debating the proposal for Market Socialism and the Lange Model by Oskar R. Lange ( 1938 ) and Hayek's student Abba Lerner ( 1934, 1937, 1938 ), which was developed in response to the calculation argument.

Friedrich August Hayek CH (; 8 May 189923 March 1992 ), born in Austria-Hungary as Friedrich August von Hayek, was a British economist and philosopher best known for his defense of classical liberalism.

Hayek was born in Vienna ( then the capital of Austria-Hungary ), and was the son of August von Hayek, a doctor in the municipal health service.

On his mother's side, Hayek was second-cousin to the philosopher Ludwig Wittgenstein.

As a result of their family relationship, Hayek became one of the first to read Wittgenstein's Tractatus Logico-Philosophicus when the book was published in its original German edition in 1921.

In school Hayek was much taken by one instructor's lectures on Aristotle's ethics.

Hayek suffered damage to his hearing in his left ear during the war, and was decorated for bravery.

Upon the completion of his examinations, Hayek was hired by Ludwig von Mises on the recommendation of Wieser as a specialist for the Austrian government working on the legal and economic details of the Treaty of Saint Germain.

It was sometime after reading Socialism that Hayek began attending Ludwig von Mises ' private seminars, joining several of his university friends, including Fritz Machlup, Alfred Schutz, Felix Kaufmann, and Gottfried Haberler, who were also participating in Hayek's own, more general, private seminar.

Upon his arrival in London, Hayek was quickly recognized as one of the leading economic theorists in the world, and his development of the economics of processes in time and the coordination function of prices inspired the ground-breaking work of John Hicks, Abba Lerner, and many others in the development of modern microeconomics.

In 1932, Hayek suggested that private investment in the public markets was a better road to wealth and economic coordination in Britain than government spending programs, as argued in a letter he co-signed with Lionel Robbins and others in an exchange of letters with John Maynard Keynes in The Times.

Hayek was concerned about the general view in Britain's academia that fascism was a capitalist reaction to socialism and The Road to Serfdom arose from those concerns.

It was first published in Britain by Routledge in March 1944 and was quite popular, leading Hayek to call it " that unobtainable book ," also due in part to wartime paper rationing.