Friedrich August von Hayek (often referred to by his initials F. A. Hayek) was an Austrian-born British academic who made significant contributions to political economy, political philosophy, and intellectual history. He was born on 8 May 1899 and passed away on 23 March 1992.
Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for his work on money and economic fluctuations, as well as the interdependence of economic, social, and institutional phenomena. His theory on how prices communicate information stands as a major contribution to economics.
During World War I, Hayek served in the war, an experience that influenced his career path in economics. He earned doctoral degrees in law and political studies from the University of Vienna, eventually becoming a British national in 1938. He held positions at the London School of Economics and the University of Chicago, and later taught at the Universities of Salzburg and Freiburg.
Hayek's influence extended across various political and economic movements in the 20th century. Although sometimes labeled as a conservative, he preferred the terms classical liberal or libertarian. His most well-known work, The Road to Serfdom, is considered a classic.
In recognition of his academic contributions, Hayek was appointed a Member of the Order of the Companions of Honour in 1984, received the Hanns Martin Schleyer Prize in the same year, and was awarded the Presidential Medal of Freedom in 1991 by President George H. W. Bush.