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93 years
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Friedrich August Hayek was an economist and philosopher best known for his defense of classical liberalism and free-market capitalism against socialist and collectivist thought. In 1974, Hayek shared the Nobel Memorial Prize in Economic Sciences (with his political rival, Gunnar Myrdal) for his "pioneering work in the theory of money and economic fluctuations and... penetrating analysis of the interdependence of economic, social and institutional phenomena". He considered the efficient allocation of capital to be the most important factor leading to sustainable and optimal GDP growth, and warned of harms from monetary authority manipulation of interest rates. Interest rates should be set naturally by equilibrium between consumption of goods or capital stock....
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Friedrich August Hayek was an economist and philosopher best known for his defense of classical liberalism and free-market capitalism against socialist and collectivist thought. In 1974, Hayek shared the Nobel Memorial Prize in Economic Sciences (with his political rival, Gunnar Myrdal) for his "pioneering work in the theory of money and economic fluctuations and... penetrating analysis of the interdependence of economic, social and institutional phenomena". He considered the efficient allocation of capital to be the most important factor leading to sustainable and optimal GDP growth, and warned of harms from monetary authority manipulation of interest rates. Interest rates should be set naturally by equilibrium between consumption of goods or capital stock....
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• 1970s
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John Maynard Keynes, Economist
John Maynard Keynes was a British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. He built on and greatly refined earlier work on the causes of business cycles, and is wi... |
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The Nobel Prize
The Nobel Prize is a set of annual international awards bestowed in several categories by Swedish and Norwegian institutions in recognition of academic, cultural or scientific advances.
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Ronald Reagan, 40th US President, 1981–1989
Ronald Wilson Reagan was an American actor and politician. He was the 40th President of the United States (1981–1989), and served as the 33rd Governor of California (1967–75) prior to his presidency.
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Margaret Thatcher, The Iron Lady
Margaret Hilda Thatcher, Baroness Thatcher, was the Prime Minister of the United Kingdom from 1979 to 1990 and the Leader of the Conservative Party from 1975 to 1990. She was the longest-serving British Prime Minister of the 20th century and is curre... |
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John Nash, Nash Equilibrium
John Forbes Nash Jr. was an American mathematician who made fundamental contributions to game theory, differential geometry, and the study of partial differential equations. Nash's work has provided insight into the factors that govern chance and dec... |
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