Milton Friedman was born 104 year ago while Friedrich Hayak was born 117 years ago. Yet their teaching are still relevant today.
Friedrich Hayek’s work with the Mont Pèlerin Society, an international association founded by him in 1947 and later led by Milton Friedman, was concerned about systemic problems with capitalism rather than stopping the interventionist state. Yet Hayek rather than Friedman has been mentioned more by conservatives since the Great Recession of the late 2000s.
Here is an explanation as to why from Angus Burgin, author of The Great Persuasion: Reinventing Free Markets since the Depression:
An essential difference between Hayek and Friedman here was that Hayek was in many ways a dark thinker. If you read Hayek in the 1930s and 1940s, the thinks the world is coming apart. Certainly Hayek’s response to the Great Depression was not one that imbued with a great deal of optimism. He…
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Utopia, you are standing in it! 
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