EXTERNAL TALK: FRIEDRICH HAYEK: PHILOSOPHY AND ECONOMICS - DR. DUONG NGOC DUNG

15/ 07/ 2022

Friedrich August von Hayek (May 8, 1899 – March 23, 1992) was an Austrian-born British economist and political scientist. Hayek is known for arguing in favor of free-market capitalism against the socialist ideas that were developing in the 20th century. He is considered a profound influence on the successive generations of intellectuals and politicians.

However, in many ways Hayek is an unorthodox thinker and even is the opposite of most liberal economists. He did not believe in an autonomous, formalized and self-contained economics.

Philosophy is the theoretical core of a human's worldview, it will determine the economic, political, cultural, artistic, moral, etc. Therefore, scientific and correct philosophy plays a very great role in the development of society in general and the economy in particular. This is reflected in a few key points:

1. Philosophical worldview of science - theoretical basis for correct thinking about economics.

2. Philosophical worldview - methodological basis for understanding and creatively and correctly applying economic laws.

3. Philosophical worldview - theoretical basis for the correct planning of economic policies.

4. Philosophical scientific worldview - methodological basis for the formation of the right business culture; on that basis, contributing to economic development.

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