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| | FRIEDRICH A. HAYEK |
 | | Friedrich August von Hayek (1899-), a central figure in twentieth-century economics and foremost representative of the Austrian tradition, 1974 Nobel laureate in Economics, a prolific author not only in the field of economics but also in the fields of political philosophy, psychology, and epistemology, was born in Vienna, Austria on May 8, 1899. |
 | | Hayek soon came to be a vigorous participant in the debates that raged in England during the 1930s concerning monetary, capital, and business-cycle theories and was a major figure in the celebrated controversies with John Maynard Keynes, Piero Sraffa, and Frank H. Knight. |
 | | Hayek integrated his own developments in these fields into a cohesive account of a market process that tends towards intertemporal coordination and of central-bank policies that can interfere with that process in such a way as to cause artificial economic booms which are inevitably followed by economic busts. |
| www.auburn.edu /~garriro/e4hayek.htm (5128 words) |
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