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.

In his " Opening Address to a Conference at Mont Pelerin " Hayek mentioned " two men with whom I had most fully discussed the plan for this meeting both have not lived to see its realisation ": Henry Simons ( who trained Milton Friedman, a future president of the society, at the University of Chicago ) and Sir John Clapham, a senior official of the Bank of England who from 1940 – 6 was the president of the British Royal Society.

However, after 1919 titles of nobility were banned by law in Austria, and the " von Hayek " family became simply the Hayek family.

Unwilling to return to Austria after the Anschluss brought it under the control of Nazi Germany in 1938, Hayek remained in Britain and became a British subject in 1938.

The first form of neoliberalism, classical neoliberalism, stems from classical liberalism and was chiefly created in inter-War Austria by economists, including Friedrich Hayek and Ludwig von Mises.

: Member, Advisory Council, Hayek Institute, Vienna, Austria ;

Thus, for example, Friedrich von Hayek became Friedrich Hayek in 1919, when Austria abolished all indicators of nobility in family names.

The global Great Depression formed a crucial backdrop against which Hayek formulated his positions, especially in opposition to the views of Keynes.

" The ' Great Society ' and the ' Open Society ': Liberalism in Hayek and Popper.

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 ".

In a letter Rüstow wrote that Hayek and his master Mises deserved to be put in spirits and placed in a museum as one of the last surviving specimen of the extinct species of liberals which caused the current catastrophe ( the Great Depression ).

Hungarian socialist and political economist Karl Polanyi made the antitheical argument to Hayek in the book The Great Transformation.

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.

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.

A number of continental European émigrés to Britain and the United States — including Hannah Arendt, Karl Popper, Friedrich Hayek, Leo Strauss, Isaiah Berlin, Eric Voegelin and Judith Shklar — encouraged continued study in political philosophy in the Anglo-American world, but in the 1950s and 1960s they and their students remained at odds with the analytic establishment.

The Road to Serfdom was to be the popular edition of the second volume of Hayek ’ s treatise entitled “ The Abuse and Decline of Reason ,” and the title was inspired by the writings of the 19th century French classical liberal thinker Alexis de Tocqueville on the “ road to servitude .” The book was first published in Britain by Routledge in March 1944, during World War II, and was quite popular, leading Hayek to call it “ that unobtainable book ,” also due in part to wartime paper rationing.

Hayek ( 1899 – 1992 ) in 1944 galvanized opponents of the New Deal by arguing that the left in Britain was leading that nation down the " road to serfdom ".

In 1991, US President George H. W. Bush awarded Hayek the Presidential Medal of Freedom, one of the two highest civilian awards in the United States, for a " lifetime of looking beyond the horizon.

Hayek recommended liberal economic reforms similar to Chile's for the Keynesian economy in the United Kingdom to Prime Minister Margaret Thatcher.

Hayek received new attention in the 1980s and 1990s with the rise of conservative governments in the United States, United Kingdom, and Canada.

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 group included Þorsteinn Pálsson, Geir H. Haarde, Jón Steinar Gunnlaugsson, Kjartan Gunnarsson, Magnús Gunnarsson, Brynjólfur Bjarnason and Hannes Hólmsteinn Gissurarson, and they published the magazine Eimreiðin from 1972 to 1975 ; in the following years they followed with interest what was happening in the United Kingdom under Margaret Thatcher and in the United States under Ronald Reagan ; they also read books and articles by and about Milton Friedman, Friedrich Hayek and James M. Buchanan, who all visited Iceland in the early 1980s and whose messages of limited governments, privatisation, and liberalisation of the economy had a wide impact.

Hayek argues that Western democracies, including the United Kingdom and the United States, have “ progressively abandoned that freedom in economic affairs without which personal and political freedom has never existed in the past .” Society has mistakenly tried to ensure continuing prosperity by centralized planning, which inevitably leads to totalitarianism.

In responding to Burnham and Hayek ... liberals the statist sense of this term as used by some in the United States were in fact responding to a powerful strain of Jeffersonian anti-statism in American political culture ...

Kumalo joined actress Salma Hayek in the bid to eradicate neonatal and maternal tetanus in the world, as spokesman for the United Nations Children ’ s Fund and nappy brand Pamper ’ s campaign to save more than 250 million infants by 2012.

" Hayek died in 1992 in Freiburg, Germany, and was buried in the Neustift am Wald cemetery in the northern outskirts of Vienna.

Hayek did not like the expression “ social market economy ”, but he noticed in 1976 that some of his friends in Germany had succeeded in implementing the sort of social order for which he was pleading while using that phrase.

Hayek argued that the road to socialism leads society to totalitarianism, and argued that fascism and Nazism were the inevitable outcome of socialist trends in Italy and Germany during the preceding period.

Hence, after 1919, Hayek's legal name became " Friedrich Hayek ", not " Friedrich von Hayek ".

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.

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 ".

About this time, he also became a friend and admirer of the noted free market economists Friedrich Hayek, Ludwig von Mises and Wilhelm Röpke, and an ally to the American writers James Burnham, John Chamberlain and John Dos Passos.

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.

Similarly, Friedrich von Hayek became Friedrich Hayek and Kurt von Schuschnigg became Kurt Schuschnigg.

Friedrich Hayek identified two different traditions within classical liberalism: the " British tradition " and the " French tradition ".

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.

Hayek conceded that the national labels did not exactly correspond to those belonging to each tradition: Hayek saw the Frenchmen Montesquieu, Constant and Tocqueville as belonging to the " British tradition " and the British Thomas Hobbes, Priestley, Richard Price and Thomas Paine as belonging to the " French tradition ".

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.

In 1977, Hayek was critical of the Lib-Lab pact, in which the British Liberal Party agreed to keep the British Labour government in office.

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.

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

Gunnar Myrdal received the Nobel Memorial Prize in Economic Sciences in 1974 ( shared with his ideological nemesis, Austrian economist Friedrich Hayek ); Bertil Ohlin received the Nobel Prize in Economics in 1977 ( shared with British economist James Meade ).

Critics of the British mixed economy, including Ludwig von Mises and Friedrich von Hayek, argued that what is called a mixed economy is a move toward socialism and increasing the influence of the state.

Significantly, Hayek challenged the general view among British academics that fascism was a capitalist reaction against socialism, instead arguing that fascism and socialism had common roots in central economic planning and the power of the state over the individual.

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

Winston Churchill was influenced by the work of Hayek and opposed heavy government interference in the British economy.

Lord Bauer was also a fellow of the British Academy and a member of the Mont Pelerin Society, which was founded by his friend Friedrich Hayek.