Friedrich August von Hayek was the co-recipient of the Nobel Prize in Economics in 1974 (with Gunnar Myrdal). He received his doctorates in law and political science from the University of Vienna, and is arguably , the most prominent opponents to the expansion of government in the twentieth century.
Before the influence of his mentor, Ludwig von Mises, he was a Fabian socialist. Most of Hayek's early work focused on monetary theory, but later focused on the impossibility of socialism. His later work had a strong Darwinian flavor .
According to Hayek, Keynesian policies to reduce unemployment would only cause inflation, because the central bank would have to increase the money supply faster and faster in order to keep unemployment low. His book, "Tiger by the Tail" gives a ve ry detailed explanation of this.
Works by Friedrich August von Hayek:
Quotes on Friedrich August von Hayek, by Greg Ransom
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