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Friedrich Hayek: The ideas and influence of the libertarian economist by Eamonn Butler

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The Continuing Evolution

“If any twentieth-century economist was a Renaissance Man,” reports the Concise Encyclopaedia of Economics, “it was Friedrich Hayek. He made fundamental contributions in political theory, psychology and economics. In a field in which the relevance of ideas is often eclipsed by expansions on an initial theory, many of his contributions are so remarkable that people still read them more than fifty years after they were written.”

The claim is certainly true. People who knew Hayek speak of his extraordinary ability to penetrate right to the heart of a seemingly complex debate, making expert economists, social scientists, philosophers and psychologists stop and question their own fundamental assumptions. He did not have ...

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