Biography of Friedrich August von Hayek (1899-1992)

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Friedrich Hayek was born on May 8th 1899 in Vienna, Austria. His father was a physician and botanists, and he grew up in a distinguished but modest family. In March of 1917, he enrolled in the army to fight in World War I. He returned to Vienna in November 1918, attending the University of Vienna as a law student. Hayek was also interested in economics and psychology, and he also studied them at Vienna. He received a doctorate …

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…side. Hayek's works got the attention of Robbins, who brought him to the LSE for another ally in the debate. Keynes, for the most part, won the debate which dealt two blows to Hayek: the first being Hayek losing the debate, the second being that during the enthusiasm for Keynes General Theory Hayek's business cycle theory was swept away. During the late 1930s, and post-WWII socialism was emerging in European countries. Hayek passionately opposed socialism.