It was the Institute of Economic Affairs which in 1976 published Hayek's 'Choice in Currency: A Way to Stop Inflation'. I accepted immediately, not reflecting the obvious time constraints. Even more so as the invitation came from the Institute of Economic Affairs, an institution devoted to the study and propagation of liberal ideas - to the idea of liberty. All those in public office responsible for making decisions should never forget this message.Īgainst this background you can imagine that it is a great honour for me to be invited to give this lecture on the occasion of Hayek's 100 th birthday. Related to this 'discovery' is 'pretence of knowledge' as a permanent danger for societies. This approach is of extreme relevance for economics but, goes far beyond this. Many left their marks, only to mention the impressive 'The Constitution of Liberty'.īut, perhaps more than anything else, it was the perception of 'competition as a discovery process' which has shaped my thinking. Since then I have read most of Hayek's publications.

Only eleven years after the Hitler regime and the war I suddenly started to understand the interdependence between totalitarianism and economic policy.

It was the first book written by Hayek I came across, and it has left a deep and lasting influence on me. Compare Standard and Premium Digital here.Īny changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel.Speech by Professor Otmar Issing, Annual Hayek Memorial Lecture hosted by the Institute of Economics affairs, London, Īs a young student I read 'The Road to Serfdom'. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many user’s needs.

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