Austrian economics gets its name not from a particular connection to the country in technical terms, but rather because it was born there in the 1870s from great minds such as Carl Menger, Eugen von Böhm-Bawerk, and Friedrich von Wieser. One generation later, another native Austrian would pick up the mantle. Friedrich A. Hayek, the famed Austrian economist and political philosopher, was born in Vienna on May 8, 1899. His father August was a physician and professor of botany, and his mother hailed from a prominent Viennese family. Like so many young men of his generation, Hayek served during...
















