Happy Birthday, Fritz!

F.A. Hayek would have been 106 today.  His work continues to influence many in the social sciences.  I have been enormously influenced by his book "The Constitution of Liberty" as well as his essays collected in "Individualism and Economic Order."  The former offers a provocative explanation for the rise of the west; the latter offers profound insights into the of nature of all social orders.  Much of my dissertation explored these writings and their relevance for today's world.  His earlier writings in monetary economics (see here and here), although less influential and insightful, contains gems of insight into how the monetary system affects real economic activity.  (Incidentally, I wrote my undergraduate thesis on these issues.)   

Although his influence continues, his insights fail to exert much impact outside of academic circles.  For example, his critique of central planning has hardly made a dent into the thinking of the development community.  One needs only to read Jeff Sachs or Joseph Stiglitz's recent essays and books to recognize this.  Similarly, numerous programs proposed by both political parties do not come to terms with Hayek criticisms (see Cafe Hayek for numerous examples).  Let's hope that someday in the near future his insights will become part of everyday economic and political debate so as to improve the lives of the average person.

Comments

[Kevin Fleming]

Hayek deserves far greater acknowledgement than he garners, unfortunately. In some circles he is considered to be a fringe thinker.

For example, my attempts to discuss the flaws of central planning in the recent national health care proposals using the work of Hayek, Mises and Becker was dismissed as "ideological". Indeed, I cannot get any of the major medical journals to accept my work on the subject.

Although medicine likes to talk about "evidence-based" literature, it prefers Marx over Hayek (i.e., fiction over fact) when discussing health care.

[Pablo]

About health care, doctors prefer Marx couse he only talks of work as a capital, so they can charge us wath they want ;)

regrets

[Mary]

I am yet a beginner in economic/free market thinking, but Hayek has already influenced me a great deal. It's discouraging to a young person that a clear thinker and eloquent (if long-winded) writer as Hayek is ignored, but then that's what I expect. I'll continue my independent studies and maybe down the road I'll have passed on a little of his influence ... Happy Birthday, Friedrich!

[Stoozyhon]

Sooedy please :(
Wrong categorty...

will be carerful

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