Abstract

Of the many twentieth-century Austrian intellectuals who have left an indelible mark, Friedrich Hayek is without a doubt one of the most multidimensional, and for this reason also one of the most difficult to comprehend. Who was he, in fact? He presented himself as a fourth-generation economist trained in the famous “Austrian School” which Carl Menger had founded in 1871. Indeed, Hayek may well be its last representative, given his own opinion that after him the Austrian School had more or less ceased to exist.