Hayek: A Collaborative Biography: Part XV: The Chicago School of Economics, Hayek’s ‘luck’ and the 1974 Nobel Prize for Economic Science by Robert Leeson
English | EPUB (True) | 2018 | 440 Pages | ISBN : 3319952188 | 1.1 MB
On 9 August 1974, Richard Nixon resigned to avoid impeachment; on 29 April 1975, the United States scuttled from their Embassy in Saigon - optics that were interpreted as defeats for the ‘International Right’. Yet in 1975, Margaret Thatcher became leader of the Conservative Party; and in 1976 Ronald Reagan almost unseated a sitting Republican Party President. Pivotal to the ‘turn to the Right’ was Friedrich ‘von’ Hayek’s 1974 Nobel Prize for Economic Science - awarded for having used Austrian Business Cycle Theory to predict the Great Depression: ‘For him it is not a matter of a simple defence of a liberal system of society as may sometimes appear from the popularized versions of his thinking.’