This,” Thatcher, said sternly, “is what we believe,” and banged Hayek down on the table.’




ustrian School
Born8 May 1899
ViennaAustria-Hungary
Died23 March 1992 (aged 92)
FreiburgGermany
NationalityBritish (Naturalized in 1938; formerly was Austrian)
InstitutionUniversity of Freiburg(1962–1968)
University of Chicago(1950–1962)
London School of Economics (1931–1950)



F.  A. Hayek was awarded the Nobel Prize in Economics in  1974. The press release announcing this award recognised that  ‘Hayek’s contributions in the field of economic theory are both profound and original.

The influence of Hayek “The Results of Human Action but not of Human Design” on Prime Minister Margaret Thatcher 
The Right HonourableThe Baroness Thatcher 
LG OM PC FRS
Photograph
is legendary. In both The Path to Power  and The Downing Street Years Lady Thatcher acknowledged the influence of Hayek on her view of the world
There is also evidence of his influence on her
policy decisions. Once during a party policy meeting a speaker
started to argue that the Conservative Party should adopt a
pragmatic middle way. According to John Ranelagh in Thatcher’s
People, ‘Before he had finished speaking … the new Party Leader
reached into her briefcase and took out a book. It was Friedrich
von Hayek’s The Constitution of Liberty. Interrupting, she held the
book up for all of us to see. “This,” she said sternly, “is what we
believe,” and banged Hayek down on the table.’
But  The Constitution of Liberty  is not a narrowly conceived
party tract. It favours no party, except perhaps for ‘the party of
life, the party that favors free growth and spontaneous evolution’,
which Hayek evokes in his postscript. Rather,  The Constitution
of Liberty is the culmination of four decades of reflection on the
nature of economic, political and social life and the possibility of
a free society

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