Abstract
This article reviews the major intellectual contributions of the Austrian-born Nobel laureate Friedrich Hayek. Within economics, Hayek made contributions to many areas, among them monetary theory, trade cycle theory, and capital theory. His ‘knowledge-based’ critique of socialism and subsequent work on ‘the knowledge problem’ are widely viewed as seminal contributions to economics. Hayek also did substantial work in such fields as political theory, the methodology of the social sciences, psychology and intellectual history. Finally, his writings on spontaneous orders and his ‘theory of complex phenomena’ anticipated later developments in such areas as complexity theory and agent-based modelling.
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Bibliographical note: the book series The Collected Works of F.A. Hayek, published jointly by the University of Chicago Press and Routledge, is currently in process of production. The series consists of annotated versions of all of Hayek’s major works, as well as supplementary material. Each volume contains an extensive editorial introduction to set the work in context. In the list of selected works below, references are made to those volumes of the Collected Works edition that have already appeared, otherwise to the original edition.
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Caldwell, B. (2018). Hayek, Friedrich August von (1899–1992). In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_795
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DOI: https://doi.org/10.1057/978-1-349-95189-5_795
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