Divyanshu67/squad_v2 huggingface dataset:
Friedrich_Hayek

Friedrich August von Hayek was born in Vienna to August von Hayek and Felicitas Hayek (née von Juraschek). Friedrich's father, from whom he received his middle name, was also born in Vienna in 1871. He was a medical doctor employed by the municipal ministry of health, with passion in botany, in which he wrote a number of monographs. August von Hayek was also a part-time botany lecturer at the University of Vienna. Friedrich's mother was born in 1875 to a wealthy, conservative, land-owning family. As her mother died several years prior to Friedrich's birth, Felicitas gained a significant inheritance which provided as much as half of her and August's income during the early years of their marriage. Hayek was the oldest of three brothers, Heinrich (1900–69) and Erich (1904–86), who were one-and-a-half and five years younger than him.

Question: Who was Hayek's father?
Answer: August von Hayek

Question: What was August von Hayek's occupation?
Answer: medical doctor

Question: What was August von Hayek particularly passionate about?
Answer: botany

Question: From whom did Felicitas inherit her wealth?
Answer: her mother

Question: How many children did August von Hayek and his wife have?
Answer: three
Friedrich_Hayek

His father's career as a university professor influenced Friedrich's goals later in life. Both of his grandfathers, who lived long enough for Friedrich to know them, were scholars. Franz von Juraschek was a leading economist in Austria-Hungary and a close friend of Eugen Böhm von Bawerk, one of the founders of the Austrian School of Economics. Von Juraschek was a statistician and was later employed by the Austrian government. Friedrich's paternal grandfather, Gustav Edler von Hayek, taught natural sciences at the Imperial Realobergymnasium (secondary school) in Vienna. He wrote systematic works in biology, some of which are relatively well known.

Question: Who's occupation inspired Hayek when he was older?
Answer: His father's

Question: Eugen Bohm was friends with which of Hayek's grandfathers?
Answer: Franz von Juraschek

Question: What occupation did Hayek's grandfather's have?
Answer: scholars

Question: Who was August von Hayek's father?
Answer: Gustav Edler von Hayek

Question: What did August von Hayek's father write?
Answer: systematic works in biology
Friedrich_Hayek

On his mother's side, Hayek was second cousin to the philosopher Ludwig Wittgenstein. His mother often played with Wittgenstein's sisters, and had known Ludwig well. As a result of their family relationship, Hayek became one of the first to read Wittgenstein's Tractatus Logico-Philosophicus when the book was published in its original German edition in 1921. Although Hayek met Wittgenstein on only a few occasions, Hayek said that Wittgenstein's philosophy and methods of analysis had a profound influence on his own life and thought. In his later years, Hayek recalled a discussion of philosophy with Wittgenstein, when both were officers during World War I. After Wittgenstein's death, Hayek had intended to write a biography of Wittgenstein and worked on collecting family materials; and he later assisted biographers of Wittgenstein.

Question: Who was among the first readers of Ludwig  Wittgenstein's book?
Answer: Hayek

Question: How often times did Hayek and Wittgenstein meet?
Answer: on only a few occasions

Question: Whose philosophy heavily influenced Hayek?
Answer: Ludwig Wittgenstein

Question: What did Wittgenstein and Hayek do during the first world war?
Answer: both were officers

Question: What was the name of the book Wittgenstein published in 1921?
Answer: Wittgenstein's Tractatus Logico-Philosophicus
Friedrich_Hayek

Hayek displayed an intellectual and academic bent from a very young age. He read fluently and frequently before going to school. At his father's suggestion, Hayek, as a teenager, read the genetic and evolutionary works of Hugo de Vries and the philosophical works of Ludwig Feuerbach. In school Hayek was much taken by one instructor's lectures on Aristotle's ethics. In his unpublished autobiographical notes, Hayek recalled a division between him and his younger brothers who were only few years younger than him, but he believed that they were somehow of a different generation. He preferred to associate with adults.

Question: What did Hayek conclude regarding his brothers?
Answer: they were somehow of a different generation

Question: With whom did Hayek more frequently converse?
Answer: adults

Question: Prior to his schooling, what was the state of Hayek's reading skills?
Answer: read fluently and frequently

Question: Who told Hayek he should begin reading Hugo de Vries works?
Answer: his father

Question: Which philosopher did Hayek learn about in a school lecture?
Answer: Aristotle
Friedrich_Hayek

At the University of Vienna, Hayek earned doctorates in law and political science in 1921 and 1923 respectively; and he also studied philosophy, psychology, and economics. For a short time, when the University of Vienna closed, Hayek studied in Constantin von Monakow's Institute of Brain Anatomy, where Hayek spent much of his time staining brain cells. Hayek's time in Monakow's lab, and his deep interest in the work of Ernst Mach, inspired Hayek's first intellectual project, eventually published as The Sensory Order (1952). It located connective learning at the physical and neurological levels, rejecting the "sense data" associationism of the empiricists and logical positivists. Hayek presented his work to the private seminar he had created with Herbert Furth called the Geistkreis.

Question: Where did Hayek acquire his doctorates?
Answer: University of Vienna

Question: Where did Hayek learn about the brain?
Answer: Constantin von Monakow's Institute of Brain Anatomy

Question: What was the name of Hayek's first work?
Answer: The Sensory Order

Question: Where did first show his work?
Answer: the Geistkreis

Question: With whom did Hayek establish the Geistkreis?
Answer: Herbert Furth
Friedrich_Hayek

During Hayek's years at the University of Vienna, Carl Menger's work on the explanatory strategy of social science and Friedrich von Wieser's commanding presence in the classroom left a lasting influence on him. Upon the completion of his examinations, Hayek was hired by Ludwig von Mises on the recommendation of Wieser as a specialist for the Austrian government working on the legal and economic details of the Treaty of Saint Germain. Between 1923 and 1924 Hayek worked as a research assistant to Prof. Jeremiah Jenks of New York University, compiling macroeconomic data on the American economy and the operations of the US Federal Reserve.

Question: What work did Hayek begin in 1923?
Answer: research assistant

Question: Where did Carl Menger and Friedrich von Wieser influence Hayek?
Answer: University of Vienna

Question: For whom did Hayek work upon being hired by Ludwig von Mises?
Answer: the Austrian government

Question: What was Hayek gathering during his time as a research assistant?
Answer: macroeconomic data

Question: What was the name of the professor Hayek worked for as a research assistant?
Answer: Jeremiah Jenks
Friedrich_Hayek

Initially sympathetic to Wieser's democratic socialism, Hayek's economic thinking shifted away from socialism and toward the classical liberalism of Carl Menger after reading von Mises' book Socialism. It was sometime after reading Socialism that Hayek began attending von Mises' private seminars, joining several of his university friends, including Fritz Machlup, Alfred Schutz, Felix Kaufmann, and Gottfried Haberler, who were also participating in Hayek's own, more general, private seminar. It was during this time that he also encountered and befriended noted political philosopher Eric Voegelin, with whom he retained a long-standing relationship.

Question: What ideology was Hayek originally in support of?
Answer: democratic socialism

Question: What caused Hayek to turn away from Wiser's ideology?
Answer: reading von Mises' book Socialism

Question: During his attendance to von Mises' seminars, who did Hayek become friends with?
Answer: Eric Voegelin

Question: What viewpoint did the book Socialism shift Hayek toward?
Answer: classical liberalism

Question: Who is the father of the ideology Hayek came to support?
Answer: Carl Menger
Friedrich_Hayek

With the help of Mises, in the late 1920s Hayek founded and served as director of the Austrian Institute for Business Cycle Research, before joining the faculty of the London School of Economics (LSE) in 1931 at the behest of Lionel Robbins. Upon his arrival in London, Hayek was quickly recognised as one of the leading economic theorists in the world, and his development of the economics of processes in time and the co-ordination function of prices inspired the ground-breaking work of John Hicks, Abba Lerner, and many others in the development of modern microeconomics.

Question: What position did Hayek gain at the Austrian Institute?
Answer: director

Question: Who requested that Hayek be employed by LSE?
Answer: Lionel Robbins

Question: What sort of recognition had Hayek received when he came to London?
Answer: one of the leading economic theorists in the world

Question: What subject did Hayek's works influence and inspire?
Answer: modern microeconomics

Question: In what year did Hayek come to London?
Answer: 1931
Friedrich_Hayek

Hayek was concerned about the general view in Britain's academia that fascism was a capitalist reaction to socialism and The Road to Serfdom arose from those concerns. It was written between 1940 and 1943. The title was inspired by the French classical liberal thinker Alexis de Tocqueville's writings on the "road to servitude." It was first published in Britain by Routledge in March 1944 and was quite popular, leading Hayek to call it "that unobtainable book," also due in part to wartime paper rationing. When it was published in the United States by the University of Chicago in September of that year, it achieved greater popularity than in Britain. At the arrangement of editor Max Eastman, the American magazine Reader's Digest also published an abridged version in April 1945, enabling The Road to Serfdom to reach a far wider audience than academics. The book is widely popular among those advocating individualism and classical liberalism.

Question: What did Hayek write regarding fascism and socialism?
Answer: The Road to Serfdom

Question: Whose works served as inspiration for the title of Road to Serfdom?
Answer: Alexis de Tocqueville

Question: When was the Road to Serfdom published?
Answer: March 1944

Question: Where was Road to Serfdom more popular than it was in Britain?
Answer: United States

Question: Who is responsible for Road to Serfdom being shortened for Reader's Digest in 1945?
Answer: Max Eastman
Friedrich_Hayek

In 1950, Hayek left the London School of Economics for the University of Chicago, where he became a professor in the Committee on Social Thought. Hayek's salary was funded not by the university, but by an outside foundation. University of Chicago President Robert Hutchins was in the midst of a war with the U. of Chicago faculty over departmental autonomy and control, and Hayek got caught in the middle of that battle. Hutchins had been attempting to force all departments to adopt the neo-Thomist Great Books program of Mortimer Adler, and the U. of Chicago economists were sick of Hutchins' meddling. As the result the Economics department rejected Hutchins' pressure to hire Hayek, and Hayek became a part of the new Committee on Social Thought.

Question: Upon leaving London, for what college did he choose to work?
Answer: University of Chicago

Question: Who supplied Hayek's salary?
Answer: an outside foundation

Question: What was the cause for the feud between Robert Hutchins and faculty?
Answer: departmental autonomy and control

Question: Why did the economics department turn down Hayek's employment?
Answer: sick of Hutchins' meddling

Question: What did Hayek serve on after his initial rejection?
Answer: Committee on Social Thought
Friedrich_Hayek

Hayek had made contact with many at the U. of Chicago in the 1940s, with Hayek's The Road to Serfdom playing a seminal role in transforming how Milton Friedman and others understood how society works. Hayek conducted a number in influential faculty seminars while at the U. of Chicago, and a number of academics worked on research projects sympathetic to some of Hayek's own, such as Aaron Director, who was active in the Chicago School in helping to fund and establish what became the "Law and Society" program in the University of Chicago Law School. Hayek, Frank Knight, Friedman and George Stigler worked together in forming the Mont Pèlerin Society, an international forum for libertarian economists. Hayek and Friedman cooperated in support of the Intercollegiate Society of Individualists, later renamed the Intercollegiate Studies Institute, an American student organisation devoted to libertarian ideas.

Question: Which of Hayek's works had a profound influence on those at the University of Chicago?
Answer: The Road to Serfdom

Question: Who played a critical role in the formation of the Law and Society program?
Answer: Aaron Director

Question: What group did Hayek form with three other people?
Answer: Mont Pèlerin Society

Question: What was the group that Friedman and Hayek supported later renamed to?
Answer: Intercollegiate Studies Institute
Friedrich_Hayek

After editing a book on John Stuart Mill's letters he planned to publish two books on the liberal order, The Constitution of Liberty and "The Creative Powers of a Free Civilization" (eventually the title for the second chapter of The Constitution of Liberty). He completed The Constitution of Liberty in May 1959, with publication in February 1960. Hayek was concerned "with that condition of men in which coercion of some by others is reduced as much as is possible in society". Hayek was disappointed that the book did not receive the same enthusiastic general reception as The Road to Serfdom had sixteen years before.

Question: What topic were Hayek's next two books going to cover?
Answer: the liberal order

Question: Which of Hayek's books was not as well received as The Road to Serfdom?
Answer: The Constitution of Liberty

Question: As of the release of his 1960 book, how long had it been since The Road to Serfdom was released?
Answer: sixteen years

Question: What was the title of the his 1960 book's second chapter?
Answer: The Creative Powers of a Free Civilization

Question: How did Hayek feel about the success of the book he released in 1960?
Answer: disappointed
Friedrich_Hayek

From 1962 until his retirement in 1968, he was a professor at the University of Freiburg, West Germany, where he began work on his next book, Law, Legislation and Liberty. Hayek regarded his years at Freiburg as "very fruitful". Following his retirement, Hayek spent a year as a visiting professor of philosophy at the University of California, Los Angeles, where he continued work on Law, Legislation and Liberty, teaching a graduate seminar by the same name and another on the philosophy of social science. Primary drafts of the book were completed by 1970, but Hayek chose to rework his drafts and finally brought the book to publication in three volumes in 1973, 1976 and 1979.

Question: What country did Hayek move to in 1962?
Answer: West Germany

Question: What is the name of the book Hayek started upon his arrival in West Germany?
Answer: Law, Legislation and Liberty

Question: Where did Hayek spend an entire year after his retirement?
Answer: University of California, Los Angeles

Question: When was the final volume of Law, Legislation and Liberty released?
Answer: 1979

Question: During his time in Los Angeles, what was the topic of the seminars Hayek taught not related to his new book?
Answer: philosophy of social science
Friedrich_Hayek

In February 1975, Margaret Thatcher was elected leader of the British Conservative Party. The Institute of Economic Affairs arranged a meeting between Hayek and Thatcher in London soon after. During Thatcher's only visit to the Conservative Research Department in the summer of 1975, a speaker had prepared a paper on why the "middle way" was the pragmatic path the Conservative Party should take, avoiding the extremes of left and right. Before he had finished, Thatcher "reached into her briefcase and took out a book. It was Hayek's The Constitution of Liberty. Interrupting our pragmatist, she held the book up for all of us to see. 'This', she said sternly, 'is what we believe', and banged Hayek down on the table".

Question: What political party was Margaret Thatcher the head of in 1975?
Answer: British Conservative Party

Question: Who did Thatcher meet with shortly after she was elected as the head of her party?
Answer: Hayek

Question: What path was suggested as the right one for Margaret Thatcher's party by a speaker?
Answer: the "middle way"

Question: Which of Hayek's works did Thatcher produce at the Conservative Research Department?
Answer: The Constitution of Liberty
Friedrich_Hayek

In 1977, Hayek was critical of the Lib-Lab pact, in which the British Liberal Party agreed to keep the British Labour government in office. Writing to The Times, Hayek said, "May one who has devoted a large part of his life to the study of the history and the principles of liberalism point out that a party that keeps a socialist government in power has lost all title to the name 'Liberal'. Certainly no liberal can in future vote 'Liberal'". Hayek was criticised by Liberal politicians Gladwyn Jebb and Andrew Phillips, who both claimed that the purpose of the pact was to discourage socialist legislation.

Question: What was the name of the agreement Hayek criticized in 1977?
Answer: Lib-Lab pact

Question: What did some Liberal politicians claim the pact was meant to do?
Answer: discourage socialist legislation

Question: The agreement Hayek criticized was between the British Labour government and which political party?
Answer: British Liberal Party

Question: What did Hayek believe was lost in the continued empowerment of a socialist government?
Answer: all title to the name 'Liberal'
Friedrich_Hayek

In 1978, Hayek came into conflict with the Liberal Party leader, David Steel, who claimed that liberty was possible only with "social justice and an equitable distribution of wealth and power, which in turn require a degree of active government intervention" and that the Conservative Party were more concerned with the connection between liberty and private enterprise than between liberty and democracy. Hayek claimed that a limited democracy might be better than other forms of limited government at protecting liberty but that an unlimited democracy was worse than other forms of unlimited government because "its government loses the power even to do what it thinks right if any group on which its majority depends thinks otherwise".

Question: Which party was criticized for being less concerned about liberty and democracy?
Answer: the Conservative Party

Question: With which political group was David Steel affiliated?
Answer: Liberal Party

Question: Who disagreed with David Steel's statements in 1978
Answer: Hayek

Question: Which type of government was more favorable than others according to Hayek?
Answer: limited democracy

Question: Hayek believed that which type of democracy was the worst of its alternatives?
Answer: unlimited
Friedrich_Hayek

In 1984, he was appointed as a member of the Order of the Companions of Honour (CH) by Queen Elizabeth II of the United Kingdom on the advice of the British Prime Minister Margaret Thatcher for his "services to the study of economics". Hayek had hoped to receive a baronetcy, and after he was awarded the CH he sent a letter to his friends requesting that he be called the English version of Friedrich (Frederick) from now on. After his 20 min audience with the Queen, he was "absolutely besotted" with her according to his daughter-in-law, Esca Hayek. Hayek said a year later that he was "amazed by her. That ease and skill, as if she'd known me all my life." The audience with the Queen was followed by a dinner with family and friends at the Institute of Economic Affairs. When, later that evening, Hayek was dropped off at the Reform Club, he commented: "I've just had the happiest day of my life."

Question: What group was Hayek inducted into by the Queen of England?
Answer: Order of the Companions of Honour

Question: Who suggest Hayek for the honor of joining the Order?
Answer: Margaret Thatcher

Question: In 1984, what was Margaret Thatcher's position within the British government?
Answer: Prime Minister

Question: How did Hayek wish to be referred to after his 1984 award?
Answer: Frederick

Question: At the end of the same day Hayek met with the Queen of England, what did he say?
Answer: "I've just had the happiest day of my life."
Friedrich_Hayek

In 1991, US President George H. W. Bush awarded Hayek the Presidential Medal of Freedom, one of the two highest civilian awards in the United States, for a "lifetime of looking beyond the horizon". Hayek died on 23 March 1992 in Freiburg, Germany, and was buried on 4 April in the Neustift am Walde cemetery in the northern outskirts of Vienna according to the Catholic rite. In 2011, his article The Use of Knowledge in Society was selected as one of the top 20 articles published in the American Economic Review during its first 100 years.

Question: What was the reason given for Hayek's 1991 award from the President?
Answer: a "lifetime of looking beyond the horizon"

Question: Which President presented the award to Hayek?
Answer: George H. W. Bush

Question: Where was Hayek when he died?
Answer: Freiburg, Germany

Question: Where was Hayek buried in relation to his home town of Vienna?
Answer: northern outskirts

Question: Where was The Use of Knowledge in Society published?
Answer: American Economic Review
Friedrich_Hayek

Hayek's principal investigations in economics concerned capital, money, and the business cycle. Mises had earlier applied the concept of marginal utility to the value of money in his Theory of Money and Credit (1912), in which he also proposed an explanation for "industrial fluctuations" based on the ideas of the old British Currency School and of Swedish economist Knut Wicksell. Hayek used this body of work as a starting point for his own interpretation of the business cycle, elaborating what later became known as the "Austrian Theory of the Business Cycle". Hayek spelled out the Austrian approach in more detail in his book, published in 1929, an English translation of which appeared in 1933 as Monetary Theory and the Trade Cycle. There he argued for a monetary approach to the origins of the cycle. In his Prices and Production (1931), Hayek argued that the business cycle resulted from the central bank's inflationary credit expansion and its transmission over time, leading to a capital misallocation caused by the artificially low interest rates. Hayek claimed that "the past instability of the market economy is the consequence of the exclusion of the most important regulator of the market mechanism, money, from itself being regulated by the market process".

Question: What is the name of Mises' 1912 book?
Answer: Theory of Money and Credit

Question: Hayek focused most of his economic works on the business cycle, money and what else?
Answer: capital

Question: What work did Hayek produce as a result of studying Mises' book?
Answer: Austrian Theory of the Business Cycle

Question: What is the English name for the book Hayek published in 1929?
Answer: Monetary Theory and the Trade Cycle

Question: According to Hayek, what was the cause of the banks' wrongful allocation of funds?
Answer: artificially low interest rates
Friedrich_Hayek

In 1929, Lionel Robbins assumed the helm of the London School of Economics (LSE). Eager to promote alternatives to what he regarded as the narrow approach of the school of economic thought that then dominated the English-speaking academic world (centred at the University of Cambridge and deriving largely from the work of Alfred Marshall), Robbins invited Hayek to join the faculty at LSE, which he did in 1931. According to Nicholas Kaldor, Hayek's theory of the time-structure of capital and of the business cycle initially "fascinated the academic world" and appeared to offer a less "facile and superficial" understanding of macroeconomics than the Cambridge school's.

Question: Lionel Robbins came to head which school in 1929?
Answer: London School of Economics

Question: In regards to economics, Lionel Robbins believe English-speaking academics had what?
Answer: narrow approach

Question: Which man's works were mostly the cause of the ''narrow approach''?
Answer: Alfred Marshall

Question: Who was responsible for bringing on Hayek at the LSE?
Answer: Lionel Robbins

Question: What did Nicholas Kaldor say Hayek brought to macroeconomics?
Answer: less "facile and superficial" understanding
Friedrich_Hayek

Also in 1931, Hayek critiqued Keynes's Treatise on Money (1930) in his "Reflections on the pure theory of Mr. J. M. Keynes" and published his lectures at the LSE in book form as Prices and Production. Unemployment and idle resources are, for Keynes, caused by a lack of effective demand; for Hayek, they stem from a previous, unsustainable episode of easy money and artificially low interest rates. Keynes asked his friend Piero Sraffa to respond. Sraffa elaborated on the effect of inflation-induced "forced savings" on the capital sector and about the definition of a "natural" interest rate in a growing economy. Others who responded negatively to Hayek's work on the business cycle included John Hicks, Frank Knight, and Gunnar Myrdal. Kaldor later wrote that Hayek's Prices and Production had produced "a remarkable crop of critics" and that the total number of pages in British and American journals dedicated to the resulting debate "could rarely have been equalled in the economic controversies of the past."

Question: Hayek's critical analysis of Keyne's work was published under what title?
Answer: Prices and Production

Question: Apart from easy money, what did Hayek believe unemployment was caused by?
Answer: artificially low interest rates

Question: Who did Keynes turn to for assistance in arguing his point to Hayek?
Answer: Piero Sraffa

Question: According to Nicholas Kaldor, what had Hayek's book created?
Answer: "a remarkable crop of critics"
Friedrich_Hayek

Hayek continued his research on monetary and capital theory, revising his theories of the relations between credit cycles and capital structure in Profits, Interest and Investment (1939) and The Pure Theory of Capital (1941), but his reputation as an economic theorist had by then fallen so much that those works were largely ignored, except for scathing critiques by Nicholas Kaldor. Lionel Robbins himself, who had embraced the Austrian theory of the business cycle in The Great Depression (1934), later regretted having written the book and accepted many of the Keynesian counter-arguments.

Question: What was the result of Hayek's Prices and Production?
Answer: works were largely ignored

Question: What is the name of the first book Hayek released to revise his stances from Prices and Production?
Answer: Profits, Interest and Investment

Question: Who was particularly critical of Hayek's work following Prices and Production?
Answer: Nicholas Kaldor

Question: Lionel Robbins' The Great Depression was a result of his support for what?
Answer: the Austrian theory of the business cycle

Question: Who did Keynes' arguments against the Austrian theory of the business cycle eventually influence?
Answer: Lionel Robbins
Friedrich_Hayek

Hayek never produced the book-length treatment of "the dynamics of capital" that he had promised in the Pure Theory of Capital. After 1941, he continued to publish works on the economics of information, political philosophy, the theory of law, and psychology, but seldom on macroeconomics. At the University of Chicago, Hayek was not part of the economics department and did not influence the rebirth of neoclassical theory which took place there (see Chicago school of economics). When, in 1974, he shared the Nobel Memorial Prize in Economics with Gunnar Myrdal, the latter complained about being paired with an "ideologue". Milton Friedman declared himself "an enormous admirer of Hayek, but not for his economics. I think Prices and Production is a very flawed book. I think his [Pure Theory of Capital] is unreadable. On the other hand, The Road to Serfdom is one of the great books of our time."

Question: What topic did Hayek never write a book about as he said he would?
Answer: the dynamics of capital

Question: What topic did Hayek shy away from following Pure Theory of Capital?
Answer: macroeconomics

Question: What did Gunnar Myrdal call Hayek?
Answer: an "ideologue"

Question: Which of Hayeks books did Milton Friedman praise most?
Answer: The Road to Serfdom

Question: Which whom did Hayek share a Nobel prize?
Answer: Gunnar Myrdal
Friedrich_Hayek

Building on the earlier work of Ludwig von Mises and others, Hayek also argued that while in centrally planned economies an individual or a select group of individuals must determine the distribution of resources, these planners will never have enough information to carry out this allocation reliably. This argument, first proposed by Max Weber, says that the efficient exchange and use of resources can be maintained only through the price mechanism in free markets (see economic calculation problem).

Question: What did Hayek claim those who must distribute resources would lack most?
Answer: enough information

Question: Whose work most notably influenced Hayek's argument regarding resource distribution?
Answer: Max Weber

Question: What is the one way Hayek argued that resource distribution could succeed?
Answer: through the price mechanism in free markets

Question: Other than Max Weber, who was a notable influence to Hayek's statements regarding resource distribution?
Answer: Ludwig von Mises
Friedrich_Hayek

Some socialists such as H. D. Dickinson and Oskar Lange, responded by invoking general equilibrium theory, which they argued disproved Mises's thesis. They noted that the difference between a planned and a free market system lay in who was responsible for solving the equations. They argued, if some of the prices chosen by socialist managers were wrong, gluts or shortages would appear, signalling them to adjust the prices up or down, just as in a free market. Through such a trial and error, a socialist economy could mimic the efficiency of a free market system, while avoiding its many problems.

Question: What did some socialists bring up as a rebuttal to Hayek's resource distribution argument?
Answer: general equilibrium theory

Question: What did socialists believe equilibrium theory invalidated?
Answer: Mises's thesis

Question: According to those who argued against Hayek, what sets planned and free markets apart is what?
Answer: who was responsible for solving the equations

Question: What type of economic system did the socialists want to avoid?
Answer: free market
Friedrich_Hayek

In The Use of Knowledge in Society (1945), Hayek argued that the price mechanism serves to share and synchronise local and personal knowledge, allowing society's members to achieve diverse, complicated ends through a principle of spontaneous self-organization. He contrasted the use of the price mechanism with central planning, arguing that the former allows for more rapid adaptation to changes in particular circumstances of time and place. Thus, he set the stage for Oliver Williamson's later contrast between markets and hierarchies as alternative co-ordination mechanisms for economic transactions. He used the term catallaxy to describe a "self-organizing system of voluntary co-operation". Hayek's research into this argument was specifically cited by the Nobel Committee in its press release awarding Hayek the Nobel prize.

Question: Which of Hayek's books argued against the socialist price mechanism?
Answer: The Use of Knowledge in Society

Question: Which type of economy did Hayek believe the price mechanism to be less effective with?
Answer: central planning

Question: The arguments presented in The Use of Knowledge in Society created an starting point for who?
Answer: Oliver Williamson

Question: The arguments presented in Hayek's 1945 book were a large reason for being granted what award?
Answer: the Nobel prize
Friedrich_Hayek

Hayek was one of the leading academic critics of collectivism in the 20th century. Hayek argued that all forms of collectivism (even those theoretically based on voluntary co-operation) could only be maintained by a central authority of some kind. In Hayek's view, the central role of the state should be to maintain the rule of law, with as little arbitrary intervention as possible. In his popular book, The Road to Serfdom (1944) and in subsequent academic works, Hayek argued that socialism required central economic planning and that such planning in turn leads towards totalitarianism.

Question: What was the name of the ideology Hayek criticized?
Answer: collectivism

Question: How did Hayek believe collectivism could be maintained?
Answer: a central authority

Question: According to Hayek, what is necessary for the implementation of a socialist economy?
Answer: central economic planning

Question: Hayek believed the requirements for a socialist economy would lead to what?
Answer: totalitarianism

Question: What did Hayek believe was the core responsibility of the state?
Answer: maintain the rule of law
Friedrich_Hayek

Hayek also wrote that the state can play a role in the economy, and specifically, in creating a "safety net". He wrote, "There is no reason why, in a society which has reached the general level of wealth ours has, the first kind of security should not be guaranteed to all without endangering general freedom; that is: some minimum of food, shelter and clothing, sufficient to preserve health. Nor is there any reason why the state should not help to organize a comprehensive system of social insurance in providing for those common hazards of life against which few can make adequate provision."

Question: Hayek believed the state could aid the economy by doing what?
Answer: creating a "safety net"

Question: Who did Hayek say economic security should be guaranteed to?
Answer: all

Question: According to Hayek, clothing, food and shelter should be provided to what extent?
Answer: sufficient to preserve health

Question: What sort of system did Hayek propose the government create?
Answer: social insurance
Friedrich_Hayek

Hayek's work on the microeconomics of the choice theoretics of investment, non-permanent goods, potential permanent resources, and economically-adapted permanent resources mark a central dividing point between his work in areas of macroeconomics and that of almost all other economists. Hayek's work on the macroeconomic subjects of central planning, trade cycle theory, the division of knowledge, and entrepreneurial adaptation especially, differ greatly from the opinions of macroeconomic "Marshallian" economists in the tradition of John Maynard Keynes and the microeconomic "Walrasian" economists in the tradition of Abba Lerner.

Question: In what economic field of study does Hayek's views differ from those in macroeconomics?
Answer: microeconomics

Question: What is the term used to describe economists following Keynes school of thought?
Answer: "Marshallian"

Question: Whose works inspire the term "Walrasian" in economics?
Answer: Abba Lerner
Friedrich_Hayek

During World War II, Hayek began the ‘Abuse of Reason’ project. His goal was to show how a number of then-popular doctrines and beliefs had a common origin in some fundamental misconceptions about the social science. In his philosophy of science, which has much in common with that of his good friend Karl Popper, Hayek was highly critical of what he termed scientism: a false understanding of the methods of science that has been mistakenly forced upon the social sciences, but that is contrary to the practices of genuine science. Usually, scientism involves combining the philosophers' ancient demand for demonstrative justification with the associationists' false view that all scientific explanations are simple two-variable linear relationships.

Question: When did Hayek start working on Abuse of Reason?
Answer: During World War II

Question: What did Hayek specifically aim to expose in Abuse of Reason?
Answer: fundamental misconceptions about the social science

Question: Whose beliefs in scientific philosophy were similar to Hayek's?
Answer: Karl Popper

Question: What did Hayek use to refer to the spread of ignorance and misunderstanding within the social sciences?
Answer: scientism

Question: In scientism, it is typically believed that explanations in science are what?
Answer: simple two-variable linear relationships
Friedrich_Hayek

In The Sensory Order: An Inquiry into the Foundations of Theoretical Psychology (1952), Hayek independently developed a "Hebbian learning" model of learning and memory – an idea which he first conceived in 1920, prior to his study of economics. Hayek's expansion of the "Hebbian synapse" construction into a global brain theory has received continued attention in neuroscience, cognitive science, computer science, behavioural science, and evolutionary psychology, by scientists such as Gerald Edelman, and Joaquin Fuster.

Question: In what year was the book published in which Hayek developed Hebbian learning?
Answer: 1952

Question: Before he began studying economics, what concept did Hayek come up with that was later featured in his 1952 book?
Answer: Hebbian learning

Question: What did Hayek present in his 1952 book that affected multiple areas of science?
Answer: "Hebbian synapse"

Question: What is the name of the book in which Hayek presented the Hebbian Synapse?
Answer: The Sensory Order: An Inquiry into the Foundations of Theoretical Psychology
Friedrich_Hayek

In the latter half of his career Hayek made a number of contributions to social and political philosophy, which he based on his views on the limits of human knowledge, and the idea of spontaneous order in social institutions. He argues in favour of a society organised around a market order, in which the apparatus of state is employed almost (though not entirely) exclusively to enforce the legal order (consisting of abstract rules, and not particular commands) necessary for a market of free individuals to function. These ideas were informed by a moral philosophy derived from epistemological concerns regarding the inherent limits of human knowledge. Hayek argued that his ideal individualistic, free-market polity would be self-regulating to such a degree that it would be 'a society which does not depend for its functioning on our finding good men for running it'.

Question: When did Hayek begin presenting his ideas on the limits of human knowledge?
Answer: the latter half of his career

Question: What did Hayek want society to function around?
Answer: a market order

Question: What is the responsibility of government in Hayek's market order?
Answer: to enforce the legal order

Question: What would be the cause of the success for the Hayek's ideal free-market?
Answer: would be self-regulating

Question: What would Hayek's free-market not require in order to function properly?
Answer: good men
Friedrich_Hayek

Hayek disapproved of the notion of 'social justice'. He compared the market to a game in which 'there is no point in calling the outcome just or unjust' and argued that 'social justice is an empty phrase with no determinable content'; likewise "the results of the individual's efforts are necessarily unpredictable, and the question as to whether the resulting distribution of incomes is just has no meaning". He generally regarded government redistribution of income or capital as an unacceptable intrusion upon individual freedom: "the principle of distributive justice, once introduced, would not be fulfilled until the whole of society was organized in accordance with it. This would produce a kind of society which in all essential respects would be the opposite of a free society."

Question: What concept did Hayek dislike?
Answer: social justice

Question: How did Hayek feel regarding income distribution?
Answer: there is no point in calling the outcome just or unjust

Question: What reason does Hayek provide for differences in income distribution not being a matter of just or unjust?
Answer: the results of the individual's efforts are necessarily unpredictable

Question: According to Hayek, a society in which income is redistributed is what?
Answer: the opposite of a free society
Friedrich_Hayek

Hayek’s concept of the market as a spontaneous order has been recently applied to ecosystems to defend a broadly non-interventionist policy. Like the market, ecosystems contain complex networks of information, involve an ongoing dynamic process, contain orders within orders, and the entire system operates without being directed by a conscious mind. On this analysis, species takes the place of price as a visible element of the system formed by a complex set of largely unknowable elements. Human ignorance about the countless interactions between the organisms of an ecosystem limits our ability to manipulate nature. Since humans rely on the ecosystem to sustain themselves, we have a prima facie obligation to not disrupt such systems. This analysis of ecosystems as spontaneous orders does not rely on markets qualifying as spontaneous orders. As such, one need not endorse Hayek’s analysis of markets to endorse ecosystems as spontaneous orders.

Question: What has Hayek's views on the market been used to defend?
Answer: non-interventionist policy

Question: What is the term used to describe the obligation for humans to avoid disrupting the ecosystem?
Answer: prima facie

Question: What are ecosystems views to be?
Answer: spontaneous orders

Question: One might still support spontaneous orders without agreeing with which of Hayek's assessments?
Answer: analysis of markets

Question: What is limited by the ignorance of humanity?
Answer: our ability to manipulate nature
Friedrich_Hayek

With regard to a safety net, Hayek advocated "some provision for those threatened by the extremes of indigence or starvation, be if only in the interest of those who require protection against acts of desperation on the part of the needy." As referenced in the section on "The economic calculation problem," Hayek wrote that "there is no reason why... the state should not help to organize a comprehensive system of social insurance." Summarizing on this topic, Wapshott writes "[Hayek] advocated mandatory universal health care and unemployment insurance, enforced, if not directly provided, by the state." Bernard Harcourt says that "Hayek was adamant about this." In the 1973 Law, Legislation, and Liberty, Hayek wrote:

Question: According to Wapshott, who was promoting the implementation of universal health care?
Answer: Hayek

Question: Who did Hayek say should provide a safety net for society?
Answer: the state

Question: In which of Hayek's works did he make his statements regarding social insurance?
Answer: The economic calculation problem

Question: Who made the claim that Hayek was particularly determined regarding his beliefs on social insurance and a safety net?
Answer: Bernard Harcourt
Friedrich_Hayek

Arthur M. Diamond argues Hayek's problems arise when he goes beyond claims that can be evaluated within economic science. Diamond argued that: “The human mind, Hayek says, is not just limited in its ability to synthesize a vast array of concrete facts, it is also limited in its ability to give a deductively sound ground to ethics. Here is where the tension develops, for he also wants to give a reasoned moral defense of the free market. He is an intellectual skeptic who wants to give political philosophy a secure intellectual foundation. It is thus not too surprising that what results is confused and contradictory.”

Question: Who criticizes Hayek's ability to provide specific facts?
Answer: Arthur M. Diamond

Question: Diamond believes Hayek's weaknesses come out when he steps beyond the bounds of what topic?
Answer: economic science

Question: What term does Diamond use to refer to Hayek?
Answer: intellectual skeptic

Question: Diamond states that the final result of Hayek's statements are what?
Answer: confused and contradictory
Friedrich_Hayek

Asked about the liberal, non-democratic rule by a Chilean interviewer, Hayek is translated from German to Spanish to English as having said, "As long term institutions, I am totally against dictatorships. But a dictatorship may be a necessary system for a transitional period. [...] Personally I prefer a liberal dictatorship to democratic government devoid of liberalism. My personal impression – and this is valid for South America – is that in Chile, for example, we will witness a transition from a dictatorial government to a liberal government." In a letter to the London Times, he defended the Pinochet regime and said that he had "not been able to find a single person even in much maligned Chile who did not agree that personal freedom was much greater under Pinochet than it had been under Allende." Hayek admitted that "it is not very likely that this will succeed, even if, at a particular point in time, it may be the only hope there is.", he explained, however, "It is not certain hope, because it will always depend on the goodwill of an individual, and there are very few individuals one can trust. But if it is the sole opportunity which exists at a particular moment it may be the best solution despite this. And only if and when the dictatorial government is visibly directing its steps towards limited democracy".

Question: At what point did Hayek claim dictatorships may be necessary?
Answer: a transitional period

Question: What did Hayek claim to prefer over a democratic government in the absence of liberal ideals?
Answer: a liberal dictatorship

Question: What did Hayek believe the Chilean government would become in the future?
Answer: a liberal government

Question: As claimed by Hayek, Chilean citizens had more freedom under which ruler?
Answer: Pinochet
Friedrich_Hayek

For Hayek, the supposedly stark difference between authoritarianism and totalitarianism has much importance and Hayek places heavy weight on this distinction in his defence of transitional dictatorship. For example, when Hayek visited Venezuela in May 1981, he was asked to comment on the prevalence of totalitarian regimes in Latin America. In reply, Hayek warned against confusing "totalitarianism with authoritarianism," and said that he was unaware of "any totalitarian governments in Latin America. The only one was Chile under Allende". For Hayek, however, the word 'totalitarian' signifies something very specific: the want to “organize the whole of society” to attain a “definite social goal” —which is stark in contrast to “liberalism and individualism”.

Question: Hayek believed that authoritarianism was very different from what?
Answer: totalitarianism

Question: What country did Hayek arrive in where he provided his disctinction between totalitarianism and authoritarianism?
Answer: Venezuela

Question: What did Hayek believe to be absent from Latin America?
Answer: totalitarian governments

Question: What is Hayek's definition of totalitarian?
Answer: the want to “organize the whole of society” to attain a “definite social goal”