Top 10 Books by Friedrich Hayek

You will be aware of who this man is if you love economics, well if you are not then let me tell you that Friedrich August von Hayek (8, May 1899 – 23, March 1992) was born in Austria and he is one the most famous modern economist.

His works in Economics and Liberalism are unmatched. To understand Hayek you need to read Hayek only.

 

The Road to Serfdom

In this book the author highlights the danger of State control over production. It is one of Friedrich Hayek best sellers, and you can feel his depth of understanding about the topic if you read this book.

Read it For:
This book is worth reading, and it can also inspire you towards politics, philosophy, and economics.
Don't Read it For:
The book elaborates everything nicely the concepts are good but the presentation is negative, which can be a turn off for a few but don’t let that stop you from reading this book.
What makes this book stand out?:
The passion with which writer has presented everything is amazing you will feel it when you will read his work.

The Constitution of Liberty

The author in this piece restates the ideals which have guided the path of freedom for several countries, he also states that these ideals should not change even now and should continue to guide us even in future.

Read it For:
It is one the best works you can find in political theme; the book clarifies the beliefs in political ideologies.
Don't Read it For:
The language used in the book can get a bit offensive, but the book is still something that will enlighten you.
What makes this book stand out?:
The writer has kept liberty above everything else which reflects his passion for the matter and makes this piece really special.

The Fatal Conceit

The writer in this book presents the errors which are there since in the beginning when it comes to understanding socialism on the factual and logical basis. This is what the author has termed as “The Fatal Conceit.”

Read it For:
Read this book to understand why man shaping everything according to his wish is fatal and how it actually should be.
Don't Read it For:
The arguments writer has given for fatal conceit is something everyone might not agree on, but the book overall is one of best Friedrich Hayek books.
What makes this book stand out?:
The energy and precision with which Hayek has presented his arguments are really nice and something every writer should learn.

Law, Legislation and Liberty (3 Volumes)

This three-volume series by Hayek covers his study of Principle of the political order of free society, Rules and Order, and Social Justice. The book series is very interesting and every volume has something different to offer.

Read it For:
Read it to understand the relationship between society and politics, think how both are interrelated.
Don't Read it For:
The content presented in three volumes can feel a bit repetitive to some readers, however; everything the writer has to offer is really useful.
What makes this book stand out?:
The content although in three volumes is very dense and effective; a lot has been conveyed by the author through these books

The Counter-Revolution of Science

This book presents an analysis of dangers of science in philosophy and social science on thinkers and individuals. The way thinkers, especially French have misunderstood or misused science in developing social sciences and philosophy is what the writer counters through his content.

Read it For:
After reading this book, you will question yourself about the science of social science and its historical background, including how it was developed and modified.
Don't Read it For:
The content continuously questions the presence of science in everything we know which can be seen as something really negative by many.
What makes this book stand out?:
The way writer has swept his opposition to the content is really nice.

The Pure Theory of Capital

The book explains working of money in the real world and also explains the equilibrium which should be there between input and output in an economy.

Read it For:
Reading this book will let you know a lot about the working of the real world which includes everything from the smallest to the largest part of an economy.
Don't Read it For:
The content is really good but some readers may find it hard to understand but if you will refer to other works from the same author to get a grip on the topics.
What makes this book stand out?:
The point of view from the writer with which it was created, i.e., the real-world application is something very few writers do.

Individualism and Economic Order

This book is basically a collection of writings from the author on several topics related to the same issue of free market versus the socialist planned market. The topics explained in the book are moral philosophy, economic theories and etc.

Read it For:
This is one the finest Friedrich Hayek books, and it will help you enlighten yourself about the problems faced by developing and former socialist countries.
Don't Read it For:
The book nicely complies, but the language used by the writer can be a bit negative as he expresses everything with so much passion.
What makes this book stand out?:
The way writer has related several issues to one central issue without losing its true meaning is something a reader should really appreciate.

The Sensory Order

This book is a work from the writer in biology along with psychology and philosophy which elaborates the mechanism that classifies perception, the writer has stated that perception is something which we cannot relate with physical laws.

Read it For:
Read this book to understand the interlinking nature of sciences yet having differences and separate existences.
Don't Read it For:
Some points can be argued by a few if you don’t understand the text clearly enough.
What makes this book stand out?:
The content offers a mix of philosophy, psychology, and biology in the best possible manner which is something rare.

Prices and Production

One of Friedrich Hayek’s best books, it offers an in-depth explanation of money business cycle and relationship between them. It explains very nicely how economics is used in business.

Read it For:
Read to understand how you can apply economics to any kind of business there is.
Don't Read it For:
The content is elaborative and is of high quality so it can get tricky for some the understand but then only other texts of Friedrich Hayek will help you understand this text, so don’t give up and try to grasp everything there is.
What makes this book stand out?:
The way everything is written shows the expertise writer has in the field of economics.

Money Theory and The Trade Cycle

This book explains monetary and capital theories, it will help you build a strong understanding of capital theories and relate it to the trade cycle effectively.

Read it For:
Read this book to develop a very solid concept of capital and trade cycle which will help you to do better as an economist.
Don't Read it For:
The writer in this book has developed an entirely new capital theory by discarding a few who had no use as per the writer so some might disagree with that but if you consider the book as a whole then it has a lot to offer.
What makes this book stand out?:
The way in which author has developed a new theory by discarding a few is just amazing and a reader should appreciate that.

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