To what extent do political beliefs and ideologies influence a person’s preference for one school of macroeconomic thought over another?
It is often the case that two or more economists, observing an identical set of macroeconomic data (national income accounts, inflation, unemployment), arrive at very different explanations of events. How can this be accounted for? Could this occur in a natural science?
There are often conflicts between important macroeconomic objectives. What kind of knowledge criteria should policy makers use to make decisions in favour of pursuing one objective over another?
Using the concepts of natural rate of unemployment and full employment output, how may language affect perceptions about economic events or situations?
In Profile: Friedrich A. Hayek
Born:1899, Vienna, Austria Died: 1992, Freiburg im Breisgau, Germany
Nobel Prize: 1974 "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." Awarded jointly with Gunnar Myrdal
Institutions: LSE, University of Chicago, University of Freiburg
Most famous works: The Road to Serfdom (1944) The Constitution of Liberty (1960) Law, Legislation and Liberty (3 volumes)