Friedrich August von Hayek was a prominent economist and political philosopher known for his defense of classical liberalism and free-market capitalism. His work significantly influenced economic theory and political economy, emphasizing the importance of individual freedom and spontaneous order in society. Hayek argued against central planning and socialism, stressing that knowledge is dispersed among individuals, making it difficult for a central authority to make informed economic decisions. Hayek's critique of socialism was articulated in his most famous works, including "The Road to Serfdom," where he warned that government control over the economy jeopardizes personal freedoms and leads to totalitarianism. He believed that free markets are vital for the efficient allocation of resources and the promotion of innovation. His ideas laid the foundation for the neoliberal movement in the late 20th century, advocating for deregulation and privatization. In addition to his economic theories, Hayek contributed to social philosophy, exploring the relationship between freedom and justice. He posited that true freedom requires a framework of law and order, and he distinguished between two kinds of freedom: negative liberty, the absence of interference, and positive liberty, the capacity to fulfill one's potential. Through his extensive writings and public speaking, Hayek has left a lasting legacy in both economics and political thought. Friedrich August von Hayek was a prominent economist and political philosopher known for his defense of classical liberalism and free-market capitalism. His critique of socialism was articulated in "The Road to Serfdom," where he warned that government control over the economy jeopardizes personal freedoms. In addition to his economic theories, Hayek contributed to social philosophy, exploring the relationship between freedom and justice.