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Employed with the municipality, he also taught at Hochschule für Bodenkultur and is remembered for his role in phytogeographical investigations. Hayek was actually in love with his cousin Helene Bitterlich. And the eventual victory of this viewpoint was really a tale of two cities -- Vienna and Chicago. Within a decade and a half, the shift would be largely complete. Hayek, also called Friedrich A. Hayek, in full Friedrich August von Hayek, (born May 8, 1899, Vienna, Austria—died March 23, 1992, Freiburg, Germany), Austrian-born British economist noted for his criticisms of the Keynesian welfare state and of totalitarian socialism.In 1974 he shared the Nobel Prize for Economics with Swedish economist Gunnar Myrdal. "I know, for I was one of them.... Socialism told us that we had been looking for improvement in the wrong direction." Although in the initial years, his theories on free market did not find many takers, from 1980s onwards, especially after the fall of the Soviet Block, his contributions started being reassessed and today there are considerable amount of secondary literature concerning his works. The Swedish academy wanted to honor Gunnar Myrdal, distinguished Keynesian, a father of development economics, and a great figure of Swedish socialism. In 1974 he shared the Nobel Prize for Economics with Swedish economist Gunnar Myrdal. In later years, Hayek would ruefully acknowledge that the book was too "popular" for his own academic good and had discredited him within the economics profession. In 1962, Hayek left University of Chicago to join Albert Ludwig University of Freiburg, located at Freiburg im Breisgau, Germany, as a Professor of Economic Policy, remaining there until his retirement in 1968. That book, which appeared in 1944, might have become a best-seller in Britain were it not for the extreme paper rationing of the war. Hayek became Mises's student and then, for several years, his research assistant. Yet by the 1930s, LSE's economics department, with Robbins, Hayek, and others, became the redoubt of traditional liberalism, battling to uphold the creed as socialism and Keynesianism became the dominant forces of the time. For Hayek, it was nothing less than "a marvel." Determined not to let such wars happen again, he enrolled at the University of Vienna in 1918 with both law and psychology; but later concentrated on law, becoming doctor juris (Dr. Soon after completion of his final examination, Hayek acquired a part time job on the recommendation of Wieser, working on the legal and economic details of the Treaty of Saint Germain. Sometime now, he read ‘Socialism’ by Ludwig von Mises and became more sympathetic to Carl Menger’s classical liberalism than towards Wieser’s democratic socialism. After a trip to the United States in 1923–24, Hayek returned to Vienna, married, and with von Mises’s assistance became the director of the newly founded Austrian Institute for Business Cycle Research. In retrospect, it was the awarding of the 1974 Nobel Prize in economics that first captured, almost by chance, the great intellectual change. Sometime around 1945-1946, he began an affair with Bitterlich, keeping it a secret until 1948. Nevertheless, at least one copy found its way into the hands of an Oxford undergraduate, Margaret Roberts, not yet Margaret Thatcher. In a paper entitled "The Intellectuals and Socialism," which he circulated after the first meeting of the society, he warned the participants that they should prepare for the protracted struggle, though it was one that they could win. The problem was that under central planning, there was no economic calculation -- no way to make a rational decision to put this resource here or buy that good there, because there was no price system to weigh the alternatives. Although his brothers were slightly younger than him, he never felt at ease with them, preferring to interact with elders. This would happen to people who "have all possible sympathy with the ethical motives" from which radicalism springs and who "would be only too glad if they could believe that socialism or planning can do what they promise to do." A second cousin to the philosopher Ludwig Wittgenstein, he came from a family of biologists and government officials, and he was headed toward his father's career, botany. On his return to Vienna in the middle of 1924, Friedrich Von Hayek took up a job at a civil service office. In 1974 Hayek was awarded the Nobel Prize for Economics, which, ironically, he shared with Gunnar Myrdal, whose political and economic views were often opposed to his. To some degree, Hayek had to make his arguments in code, for it was not acceptable to criticize the Soviet Union, which at the time was a great ally. It also provided liberal (in the European sense) economists with the sense of an international community, with a fervor to develop their ideas, and -- especially for those coming from countries where liberal economists were few and far between -- the means to overcome their isolation and the comfort of knowing that they were not alone. It was held at a Swiss spa on Mont Pelerin, and ever after became known as the Mont Pelerin Society. But he ran out of money and returned to Vienna to continue his work in economics. "I saw, more or less, the great empire collapse over the nationalist problem," he later said. Friedrich von Hayek was a Nobel Prize winning Austrian-British economist and philosopher, best known for his defense of classical liberalism. Depression began to unsettle him. Hayek returned to Freiburg permanently in 1977 and finished work on what would become the three-part Law, Legislation and Liberty (1973–79), a critique of efforts to redistribute incomes in the name of “social justice.” Later in the 1970s Hayek’s monograph The Denationalization of Money was published by the Institute of Economic Affairs in London, one of the many classical liberal think tanks that Hayek, directly or indirectly, had a hand in establishing.

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