In the first full biography of Friedrich Hayek (1899-1992), Alan Ebenstein chronicles the life, works, and legacy of the visionary thinker, from his early years in fin-de-siècle Vienna to his remarkable career as a Nobel Prize winning economist, political philosopher, and leading public intellectual. Ebenstein gives a balanced, integrated account of Hayek's diverse body of work, from his first encounter with free market ideas to his magisterial writings in later life on the legal, political, ethical, and economic requirements of a free society.
Alan Oliver (Lanny) Ebenstein is an American political scientist, educator and author, known from his biographical works on Friedrich Hayek and Milton Friedman.
Born in Princeton, New Jersey to William Ebenstein (1910-1976), who was also an educator and author, and Ruth Ebenstein. He obtained his BA at the University of California, Santa Barbara in 1982, and his phD at the London School of Economics in 1988.
After his graduation Ebenstein was instructor at the Antioch University from 1990 to 1993, and was director of research at the Arthur N. Rupe Foundation, established by Art Rupe. In 1992 he was Republican nominee at the California State Assembly election, 1992 for the 35th District. From 1990 to 1998 he was member of the Santa Barbara Board of Education. Since 2008 he is lecturer in economic history at the University of California, Santa Barbara. He also became adjunct scholar at the Cato Institute.
In 1988 Ebenstein co-edited the 5th edition of the Great political thinkers: Plato to the present, which was first published in 1952 edited by his father. Since the 1990s he wrote a series of biographies on economists, starting with Edwin Cannan in 1997, and further on Friedrich Hayek in 2001, and Milton Friedman in 2007.
Great book to read and learn. Hayek’s free economy idea has survived and lead to economic growth.
Not easy book to read as the content is quite academic, but Hayek’s long fulfilled life has taken us to a long history of 20 century, it is quite interesting to read and his theory survived. Free Market wins.
A lot of this biography deals with other people. Their connections or reactions to Hayek. Boooring. Or at least, it is boring for me, so I just skimmed over the later sections.
Short, basic overview of Hayek’s life and thought, with historical context and some interesting anecdotes. It’s worth reading if you’re interested in the subject, but if you’re really interested it won’t be enough. Not much insight into any other parts of Hayek’s life beside well-known facts about his academic career, and in many ways it’s more about the times and environments in which he worked.
Sure, maybe Hayek didn’t have an especially exciting life – as the book says he spent a lot of time sitting in his study room – but the events in which he participated, his travels and personal relationships could be researched, expanded and explained by a more thorough biographer, and they could give interesting insights into the connections between his lived experiences and intellectual development. I’ve read several very short biographical sketches in other books, and some interviews in which Hayek discussed biographical and personal details, and there is very little information that I learned from this book that I didn’t already found elsewhere.
This book seems like an arrangement of general historical facts, short mentions of significant economists, and Hayek’s opinions (which are often just quoted verbatim in lengthy paragraphs). It lacks a fluent, interesting biographical narrative. Some of the author’s reflections on Hayek’s philosophical ideas and ideological positions could actually use a bit more sources and quotes because occasionally they aren’t that clear and convincing. Also, despite being largely an intellectual biography, some of the important authors that influenced Hayek are barely mentioned. Overall, it’s a readable, informative book, but not a great, exhaustive biography.
As a free market economist, Hayek takes the humble and realistic view that information can not be gathered into the minds of one man, or a group of men. It is dispersed, and it is only the free market that can efficiently gather this wisdom/information in order to make the wisest decisions. My favorite quote is: "...reason is undoubtably man's most precious possession... but it is not all-powerful, and the belief that it can become its own master may yet destroy it."