Austrian-born economist Friedrich Hayek was noted for his criticisms of the Keynesian welfare state and of totalitarian socialism which was laid out in his popular book The Road to Serfdom (1944). In 1974, he shared the Nobel Prize for Economics with Swedish economist Gunnar Myrdal.
Nicholas Wapshott is the author of Keynes/Hayek: The Clash That Defined Modern Economics and Ronald Reagan and Margaret Thatcher: A Political Marriage. A former senior editor at the London Times and the New York Sun, he is now international editor at Newsweek, and lives in New York City.
He joins us on Culture Insight to share his insight into the life and work of Friedrich A. Hayek.