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FRIEDRICH VON HAYEK Austrian-British economist Rapper extraordinaire.

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Presentation on theme: "FRIEDRICH VON HAYEK Austrian-British economist Rapper extraordinaire."— Presentation transcript:

1 FRIEDRICH VON HAYEK Austrian-British economist Rapper extraordinaire

2 Was opposed to the theories of J.M. Keynes Shared the Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal, 1974 Served in WWI for the Austro-Hungarian army Founded and served as director of the Austrian Institute for Business Cycle Research Was awarded the Presidential Medal of Freedom by George H. W. Bush

3 Would not want the Government to bail out or get involved with businesses!!! 1899-USA ratifies peace treaty with Spain 1919-End of WWI 1929-Stock Market Crashes 1949-China becomes Communist 1969-First man on the moon 1989-Fall of the Berlin Wall 1992-Cold War ends

4 Created a FREE PRICE SYSTEM in which the economy is governed by price instead of by individuals

5 “I do not think it is an exaggeration to say history is largely a history of inflation, usually inflations engineered by governments for the gain governments.” –Friedrich August Von Hayek “Keynes was not a highly trained or very sophisticated economic theorist”

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