40 Years After the Nobel: F. A. Hayek and Political Economy as a Progressive Research Program

The Hayek Speaker Series promotes Nobel Laureate in Economics F. A. Hayek’s intellectual legacy by inviting distinguished scholars to discuss Hayekian ideas and the Austrian school of political economy in light of the pressing matters of our time.

Oct 02, 2014

Forty years ago, in October 1974, Friedrich von Hayek was awarded the Nobel Prize in economics. In his speech, Hayek said,

If man is not to do more harm than good in his efforts to improve the social order, he will have to learn that in this, as in all other fields where essential complexity of an organized kind prevails, he cannot acquire the full knowledge which would make mastery of the events possible. He will therefore have to use what knowledge he can achieve, not to shape the results as the craftsman shapes his handiwork, but rather to cultivate a growth by providing the appropriate environment, in the manner in which the gardener does this for his plants.

In January 2012, the Mercatus Center at George Mason University established the F. A. Hayek Program for Advanced Study in Philosophy, Politics, and Economics (ppe.mercatus.org). The Hayek Program is part of the Mercatus Center’s graduate education and research activities in the economics PhD program at George Mason University. While the history of economic thought and methodology is one of the Hayek Program’s strengths, its focus is not the intellectual history of economics but rather political economy as a progressive research program. An understanding of the past shows how where we came from may influence where we are going.

To reflect on the significance of Hayek’s Nobel Prize and the various strands of influence his work has had in subsequent decades of scholarship, please join us for a keynote speech and panel discussion by some of Hayek’s most prominent colleagues and interlocutors. We will discuss the breadth of Hayek’s vision, his contribution, and its influence on the research of other elite economic thinkers. We will explore key themes and see where they may lead us in the future of economics and political economy.

Join us on October 2, 2014, from 2:00 to 3:30 p.m., to hear Dr. Israel Kirzner, Professor Emeritus of New York University, speak on Hayek, the Nobel Prize, and the Modern Austrian School of Economics. Then, from 4:00 to 5:30 p.m., we will have a roundtable discussion with Nobel Laureates Dr. Eric Maskin of Harvard University and Dr. Vernon Smith of Chapman University.

The discussion will be followed by a reception from 5:30 to 6:30 p.m.

Watch Event Highlights

Dr. Israel Kirzner's Keynote Address on F. A. Hayek and the Nobel Prize

Dr. Peter Boettke Introduces F. A. Hayek Nobel Laureate Panel

Dr. Eric Maskin's Presentation on F. A. Hayek and the Nobel Prize

Dr. Vernon Smith's Presentation on F. A. Hayek and the Nobel Prize and Q&A