FRIEDRICH VON HAYEK. Austrian-British economist Rapper extraordinaire. Facts. 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
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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
Would not want the Government to bail out or get involved with businesses!!!
Created a FREE PRICE SYSTEM in which the economy is governed by price instead of by individuals
“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”