Friedrich Hayek by https://padlet.com/rachel_liang/pgq2fsfyhq5x Made with a dash of wit en-us 2017-06-04 12:10:05 UTC 2025-12-09 19:20:00 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Shakinghands.png My Theories: rachel_liang https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175105596 I am best known for being an advocate of free markets. He introduced the theory that reducing unemployment through monetary polices would cause inflation. This tradeoff between unemployment and inflation is now generally accepted and can be seen illustrated by a Phillips curve. I also investigated how making investment artificially high through selling government bonds could affect short term projects versus long term ones. 

Beyond this, I made significant contributions to the development of the theory of business cycles, capital theory, as well as monetary theory. I made a connection between these three and argued that failure to coordinate people's actions is what leads to market failure. So therefore, I strongly believe that markets would operate at their maximum efficiency when left as a free market. ]]> 2017-06-04 12:10:05 UTC https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175105596 My Inspiration rachel_liang https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175105597 My father's career as a scholar was one of the greatest inspirations to what I wanted to accomplish later in life. Both of my grandfathers were scholars as well, and lived long enough to provide me with guidance in life. One of the biggest influence on my later ideas in economics was my second cousin Ludwig Wittgenstein. His ideas and philosophies had a strong impact on me and my way of thinking. 

Beyond people, Austria's participation in World War I also influenced and inspired me to pursue an academic career. I wanted to help avoid mistakes that led to the war, and investigate the reasons behind it. ]]> 2017-06-04 12:10:05 UTC https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175105597 About me... rachel_liang https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175105598 Hi!! My name is Friedrich August von Hayek and I was born on May 8th 1899. I received my middle name from my father, August Von Hayek. He was a doctor and a botany enthusiast who part-time lectured botany courses at University of Vienna. My mother, on the other hand, was from a wealthy family. I have two brothers, Heinrich and Erich.

I attended the University of Vienna to major law in 1921 and political science in 1923; at the same time, I studied philosophy, psychology, and economics. I did some more in depth research in neuroscience at Constanin Von Monakow's Institute of Brain Anatomy when the University of Vienna was closed. As I graduated college, I was hired by Ludwig von Mises to work for the Austrian government on the details of the Treaty of Saint Germain. From 1923 to 1924, I worked with Professor Jeremiah Jenks of New York University on compiling macroeconomic data of the American economy and the operations of the US Federal Reserve.

I had the privilege of sharing the Nobel Memorial Prize in Economic Sciences with my friend Gunnar Myrdal, earn the Guggenheim Fellowship for Social Sciences in both the US and Canada, and recieve the Presidential Medal of Freedom. 

I died at the age of 93 on March 23rd 1992.
]]> 2017-06-04 12:10:05 UTC https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175105598 My Favourite Work: The Road to Serfdom rachel_liang https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175105599 In my book The Road to Serfdom, I discuss the idea of government control over the economy. I started writing the book in 1940 and finished it 3 years later and was published in 1944. I express my opinions on governments abandoning classical liberalism and individualism and how that will ultimately lead to a loss of freedom, or a person's serfdom. I also discuss the issues of Fascism, Capitalism, and Socialism in this book. ]]> 2017-06-04 12:10:05 UTC https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175105599 My book: The Constitution of Liberty rachel_liang https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175105603 In this book published in in 1960, I explain why I think the liberty are core to the development of civilizations. It was ranked 9th on the list of 100 best non-fiction book in the 20th century by magazine: National Review.]]> 2017-06-04 12:10:05 UTC https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175105603 More Pictures of Me... rachel_liang https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175105604 2017-06-04 12:10:05 UTC https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175105604 Hey There! rachel_liang https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175105771 2017-06-04 12:13:48 UTC https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175105771 My Book: The Fatal Conceit rachel_liang https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175109710 I shared my views on Socialism in this book that was published in 1988. In the book, demonstrated how Socialism and its premises are both incredibly wrong and how it can lead to a dysfunctional economy. ]]> 2017-06-04 13:41:33 UTC https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175109710 rachel_liang https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175110006 2017-06-04 13:48:16 UTC https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175110006 rachel_liang https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175110045 2017-06-04 13:49:13 UTC https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175110045 rachel_liang https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175110095 2017-06-04 13:50:43 UTC https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175110095 rachel_liang https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175110097 2017-06-04 13:50:47 UTC https://padlet.com/rachel_liang/pgq2fsfyhq5x/wish/175110097