wikipedia: “Friedrich Hayek” Entry, Section 3

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Student and economist

At the University of Vienna, he earned doctorates in law and political science in 1921 and 1923 respectively, and he also studied philosophy, psychology and economics with a keen interest. For a short time, when the University of Vienna closed, Hayek studied in Constantin von Monakow’s Institute of Brain Anatomy, where Hayek spent much of his time staining brain cells. Hayek’s time in Monakow’s lab, and his deep interest in the work of Ernst Mach, inspired Hayek’s first intellectual project, eventually published as The Sensory Order (1952). It turned Mach’s contribution on its head, locating connective learning at the physical, neurological levels in a direct rejection of the “sense data” associationism of the naive empiricists and logical positivists. Hayek presented his work to the private seminar he had created with Herbert Furth called the Geistkreis.[6]

Initially sympathetic to socialism, Hayek’s economic thinking began to shift after reading Ludwig von Mises’ book Socialism. He was a student of Friedrich von Wieser. Hayek worked as a research assistant to Prof. Jeremiah Jenks of New York University from 1923 to 1924. He then aided the Austrian government with the legal and economic details of the Treaty of Versailles at the close of the First World War.[citation needed] It was at this time that Hayek began attending Ludwig von Mises’ private seminars along with several friends, including Fritz Machlup, who had been participating in Hayek’s own more general private seminar.

After his work for the government, Hayek founded and served as director of the Austrian Institute for Business Cycle Research before joining the faculty of the London School of Economics (LSE) in 1931 at the behest of Lionel Robbins. In the 1930s, Hayek enjoyed a considerable reputation as a leading economic theorist, but his models were not received well by the followers of John Maynard Keynes. Debate between the two schools of thought continues to this day. While at LSE in the 1930s, Hayek tutored David Rockefeller.[7] Others who studied with Hayek at the LSE include Arthur Lewis, Ronald Coase, John Kenneth Galbraith, Abba Lerner, Nicholas Kaldor, George Shackle, Thomas Balogh, Vera Smith, L. K. Jah, Arthur Seldon, Paul Rosenstein-Rodan, and Oskar Lange. [8][9][10]

Unwilling to return to Austria after the Anschluss brought it under the control of Nazi Germany in 1938, Hayek remained in Britain and became a British subject in 1938. He held this status for the remainder of his life, although he did not live in Great Britain after 1950. He lived in the United States from 1950 to 1962 and then mostly in Germany, although briefly in Austria as well.[11]

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Competition must be seen as a process in which people acquire and communicate knowledge. — F. A. Hayek

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