The Mind cannot Foresee its own Advance

The Mind cannot Foresee its own Advance The mind cannot foresee its own advance. Friedrich Hayek Friedrich August von Hayek is an influential Austrian and British economist and philosopher. In his works he maintains classical liberalism and free-market capitalism against socialism and collectivism. He is one of the most important economists and political philosophers of the twentieth century. Hayek was also involved in jurisprudence, neuroscience and the history of ideas. Hayek is one of the most influential members of the Austrian school of economics. In 1974, he and Gunnar Myrdal, received the Nobel Prize in Economics for pioneering work in the theory of money and economic fluctuations and in-depth analysis of the interdependence of economic, social and institutional phenomena.