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Hayek’s Nobel—50 Years Later

The economic lessons that Hayek taught us are as relevant today as they were 50 years ago.
Hayek’s Nobel—50 Years Later
Austrian school economist Friedrich August von Hayek (1899–1992), circa 1950. Hulton Archive/Getty Images
Peter Jacobsen
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Commentary
Fifty years ago, Friedrich Hayek and Karl Gunnar Myrdal won the Nobel prize “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.” Hayek’s Nobel is notable for several reasons, and each relates to the importance of intellectual humility.
Peter Jacobsen
Peter Jacobsen
Author
Peter Jacobsen is a writing fellow at the Foundation for Economic Education (FEE). He teaches economics and holds the positions of assistant professor of economics at Ottawa University and Gwartney Professor of Economic Education and Research at the Gwartney Institute. He received his graduate education at George Mason University.