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Friedrich Hayek, after Keynes, the second most famous economist of the 20th century, would have been an iGreen. His three great insights are all relevant to the problem of balancing the maintenance of the environment with the interests of the present generation. He saw how "spontaneous order" develops without central planning. He showed time and again how central planning, by destroying the information contained in market prices, makes central planning itself impossible. Finally he showed how the market, by using this price information, is able to co-ordinate vastly more dispersed and therefore expert knowledge than any central planner ever could. If all environmentalists would only read the chapter on the environment in "The Constitution of Liberty" much counterproductive "environmentalism" would have been avoided. 

This is the first ever full-length biography of this remarkable man. 

Jim Thornton

Friedrich Hayek: a biography. Alan Ebenstein. Palgrave $29.95 448pp 

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Last modified: September 20, 2006