Friedrich Hayek: A Biography

Rating:
Summary: overrated
Review: This biography is one of those that once you start reading, you can't put it down! This long-overdue biography on Hayek is more of a commentary upon his major works and thoughts, interwoven with the major movements within his life.Most personal reflections of the man himself come from people who, in most cases, only knew him briefly or in limited circumstances, which is one of the major weaknesses of the work. However, the insights into the man are, at times, critical and help to remind us that the great man was human! Yet, one is left with the feeling that there is much more to be revealed, not so much about his weaknesses, but his undoubted greatness! This book is a MUST for every lover of Hayek. But there is room, in the future, for a further biography, written in the same strain as Skidelsky's excellent work on Keynes

Rating:
Summary: Hayek: The Anti-Fabian
Review: Until nearly the end of the 20th century, Friedrich Hayek seemed to be destined to be ignored and to remain in the backdrop of economic, political and philosophical history. Keynesian economics ruled, with its reliance upon state control of the levers of the economy. Hayek's vision of a renewed classical liberalism with free markets and individualism cut against the conventional intellectual wisdom of his day. Despite that, Hayek was convinced that total systems such as socialism or communism would lead to tyranny. Hayek argued that the Keynesian viewpoint, because of its reliance upon state controls, was destined to limit individual's liberty.

Hayek believed that there was an inevitable conflict between socialism and freedom. He argued passionately, and at times he was a solitary voice, for freedom and liberty. Today with the collapse of communism and the resurgence of free markets across the globe, Hayek's ideas have gained new prominence. Hayek's intellectual contributions to our world in terms of political science, philosophy, and economics can not be underestimated.

The author, Alan Ebenstein, holds a Ph.D. in economics. His account of Hayek's life is illuminating, not covering just his economic and philosophical contributions. Ebenstein covers Hayek's life from the early years and his flirtations with Fabianism (the advancement of socialist ideas through gradual means and through the insertion of its ideas into intellectual circles of influence) through to his legacy as a visionary thinker. Ebenstein's biography of Hayek's life appears to be fair and balanced on the whole. Since the author is a trained economist, you can see the benefit of his background throughout the biography without the dulling effects many associate with the dismal science. If you want to learn more about Hayek the man and his ideas, this is an ideal and recommended book.