praj-17/QA-MCQ-Open-ended huggingface dataset:
Title: Friedrich_Hayek
Context: 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
Title: Friedrich_Hayek
Context: 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
Title: Friedrich_Hayek
Context: 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
Title: Friedrich_Hayek
Context: 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
Title: Friedrich_Hayek
Context: 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
Title: Friedrich_Hayek
Context: 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
Title: Friedrich_Hayek
Context: 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'
Title: Friedrich_Hayek
Context: 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
Title: Friedrich_Hayek
Context: 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."
Title: Friedrich_Hayek
Context: 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
Title: Friedrich_Hayek
Context: 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
Title: Friedrich_Hayek
Context: 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
Title: Friedrich_Hayek
Context: 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"
Title: Friedrich_Hayek
Context: 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: Who was particularly critical of Hayek's work following Prices and Production? 

answer: Nicholas Kaldor

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: 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
Title: Friedrich_Hayek
Context: 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
Title: Friedrich_Hayek
Context: 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
Title: Friedrich_Hayek
Context: 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
Title: Friedrich_Hayek
Context: 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