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.

Eager to promote alternatives to what he regarded as the narrow approach of the school of economic thought that then dominated the English-speaking academic world ( centered at the University of Cambridge and deriving largely from the work of Alfred Marshall ), Robbins invited Hayek to join the faculty at LSE, which he did in 1931.

Hayek continued his research on monetary and capital theory, revising his theories of the relations between credit cycles and capital structure in Profits, Interest and Investment ( 1939 ) and The Pure Theory of Capital ( 1941 ), but his reputation as an economic theorist had by then fallen so much that those works were largely ignored, except for scathing critiques by Nicholas Kaldor.

Only two other Mexican actresses have been nominated since then: Salma Hayek as Best Actress in 2002 for Frida and Adriana Barraza as Best Supporting Actress in 2006 for Babel.

Taken private, in 1985, by then CEO Nicolas Hayek, with the understanding of the Swiss Banks and the financial assistance of a group of Swiss private investors, it was renamed SMH in 1986, and ultimately Swatch Group Ltd in 1998.

During this time he once interviewed Mahatma Gandhi in Bombay on his own volition ( 10 April 1945 ). Narayanan then went to England ( 1945 ) and studied political science under Harold Laski at the London School of Economics ( LSE ); he also attended lectures by Karl Popper, Lionel Robbins, and Friedrich Hayek.

Hayek analyzes the roots of Nazism in socialism, then draws parallels to the thought of British leaders:

Hayek believed that after World War II, " wisdom in the management of our economic affairs will be even more important than before and that the fate of our civilization will ultimately depend on how we solve the economic problems we shall then face ".

I think the Adam Smith role was played in this cycle the late twentieth century collapse of socialism in which the idea of free-markets succeeded first, and then special events catalyzed a complete change of socio-political policy in countries around the world by Friedrich Hayek ’ s The Road to Serfdom.

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.

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.

Nicolas Hayek, then the CEO of Swatch, the parent of ETA observed,

Economists such as Milton Friedman, Friedrich Hayek and Brink Lindsey argue that if the market is eliminated along with property, prices, and wages, then the mode of information transmission is eliminated and what will result is a highly inefficient system for transmitting the value, supply, demand, of goods, services, resources, along with an elimination of the most efficient mode of market transactions.

According to academic Corey Robin: " Hayek admired Pinochet's Chile so much that he decided to hold a meeting of his Mont Pelerin Society in Viña del Mar, the seaside resort where the coup against Allende was planned.

During a UNICEF goodwill trip to Sierra Leone in 2008, Mexican actress Salma Hayek decided to breast-feed a local infant in front of the accompanying film crew.

However, the society has always been a focal point for an international think-tank movement ; Hayek himself used it as a forum to encourage members such as Antony Fisher to pursue the think-tank route.

Hayek was one of the leading academic critics of collectivism in the 20th century.

In his popular book, The Road to Serfdom ( 1944 ) and in subsequent academic works, Hayek argued that socialism required central economic planning and that such planning in turn leads towards totalitarianism.

* The Hayek Fund for Scholars of the Institute for Humane Studies provides financial awards for academic career activities of graduate students and untenured faculty members.

Max Weber's article has been cited as a definitive refutation of the dependence of the economic theory of value on the laws of psychophysics by Lionel Robbins, George Stigler, and Friedrich Hayek, though the broader issue of the relation between economics and psychology has come back into the academic debate with the development of " behavioral economics.

* Several Cato Institute-affiliated scholars have achieved academic distinction, including Nobel laureates F. A. Hayek, Milton Friedman, James M. Buchanan, and Vernon L. Smith.

" 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.

Hayek called Finer's book " a specimen of abuse and invective which is probably unique in contemporary academic discussion.

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.

In the latter half of his career Hayek made a number of contributions to social and political philosophy, which he based on his views on the limits of human knowledge, and the idea of spontaneous order in social institutions.

As well as his successful career on Friends, Perry has appeared in films such as Fools Rush In ( alongside father John Bennett Perry and Salma Hayek ), Almost Heroes, Three to Tango, The Whole Nine Yards ( alongside Bruce Willis ) and its sequel The Whole Ten Yards, and Serving Sara.

Salma Hayek started her career in Mexican telenovelas.

* Salma Hayek runs into Peter in a restaurant and reveals that Peter sexually harassed her early in her career.

This problem of information flow implied that a decentralised system, in which information travelled freely and was freely determined at each localised point ( Hayek called this catallaxy ), would be much better than a central authority trying to do the same, even if it was completely efficient and was motivated to act in the public good.

Austrian School economists Ludwig Von Mises and Friedrich August Hayek argued that private property rights are a requisite for rational economic calculation and that the prices of goods and services cannot be determined accurately enough to make efficient economic calculation without clearly defined private-property rights.

With the help of Mises, in the late 1920s Hayek founded and served as director of the Austrian Institute for Business Cycle Research, before joining the faculty of the London School of Economics ( LSE ) in 1931 at the behest of Lionel Robbins.

" As referenced above in the section on " The economic calculation problem ", Hayek wrote that " there is no reason why ... the state should not help to organize a comprehensive system of social insurance ...." Summarizing on this topic, Wapshott writes " advocated mandatory universal health care and unemployment insurance, enforced, if not directly provided, by the state.

In Why F A Hayek is a Conservative, British policy analyst Madsen Pirie believes Hayek mistakes the nature of the conservative outlook.

Hayek saw the British philosophers Bernard Mandeville, David Hume, Adam Smith, Adam Ferguson, Josiah Tucker, Edmund Burke and William Paley as representative of a tradition that articulated beliefs in empiricism, the common law, and in traditions and institutions which had spontaneously evolved but were imperfectly understood.

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.

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 presented his work to the private seminar he had created with Herbert Furth called the Geistkreis.

Hayek was disappointed that the book did not receive the same enthusiastic general reception as The Road to Serfdom had sixteen years before.

Hayek was defended by Professor Antony Flew who stated that the German Social Democrats, unlike the British Labour Party, had, since the late 1950s, abandoned public ownership of the means of production, distribution and exchange and had instead embraced the social market economy.

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 ".

< p > There is no figure who had more of an influence, no person had more of an influence on the intellectuals behind the Iron Curtain than Friedrich Hayek.

< p > The most interesting among the courageous dissenters of the 1980s were the classical liberals, disciples of F. A. Hayek, from whom they had learned about the crucial importance of economic freedom and about the often-ignored conceptual difference between liberalism and democracy .</ p >

" Hayek had hoped to receive a baronetcy, and after he was awarded the CH he sent a letter to his friends requesting that he be called the English version of Friedrich ( Frederick ) from now on.

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 never produced the book-length treatment of " the dynamics of capital " that he had promised in the Pure Theory of Capital.

Hayek, of course, had lived his early life under the mostly liberal, but mostly non-democratic, rule of the Austro-Hungarian Emperor, and Hayek had seen democracy descend into illiberal tyranny in a host of Central and Eastern European countries.

Hayek had a long-standing and close friendship with philosopher of science Karl Popper, also from Vienna.

Hayek identified himself as a classical liberal but noted that in the United States it had become almost impossible to use " liberal " in its original definition, and the term " libertarian " has been used instead.

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