Original sentence: Friedrich August von Hayek CH (8 May 189923 March 1992) was an  Austrian (and, after 1938, British) economist, philosopher and intellectual  known throughout the world for his arguments about the ability of prices to aggregate knowledge, promoting classical liberalism and free-market capitalism against socialist and collectivist thought.He is considered to be one of the most important economists and political philosophers of the twentieth century, One of the most influential members of the Austrian School of economics and mainstream economics, he also made significant contributions in the fields of jurisprudence and cognitive science.He shared the 1974 Nobel Memorial Prize in Economics with Gunnar Myrdal "for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena
Edited sentence: Friedrich August von Hayek CH (8 May 189923 March 1992), the son of a municipal doctor in Vienna, is rivaled by only Adam Smith as the preeminent theorist of the market system.Hayek's account of how changing relative prices communicate signals which enable individuals to coordinate their unique plans in an ever changing world is widely regarded as one of the landmark achievements of economic science.In 1974 Hayek shared the Nobel Memorial Prize in Economics with Gunnar Myrdal "for their pioneering work in the theory of money and economic fluctuations and for their penetrating analysis of the interdependence of economic, social and institutional phenomena.One of the great polymaths of the 20th century, Hayek also made significant contributions in jurisprudence, neuroscience, philosophy and the history of ideas.This and a host of other important contributions has made Hayek one of the most influential economists of modern times