While both Friedrich Hayek and Ludwig von Mises were influential Austrian economists who collaborated on business cycle theory in the 1920s, Hayek evolved into a broader social philosopher, particularly evident in his later works like 'The Constitution of Liberty' and his trilogy 'Law, Legislation, and Liberty,' whereas Mises remained more focused on economic analysis, notably arguing that socialism is impossible.
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Hayek vs Mises: Economics, Philosophy, and LibertyAdded:
You you mentioned something that Mises was more like uh the guy that we know from the 1920s who said, you know, socialism doesn't work and it's impossible. And then he and Hayek were working on the business cycle theory in the 1920s. But Hayek, as you mentioned, had a much broader spectrum. And the older he got, the more he became a social philosopher. Uh and when we look at his uh Constitution of Liberty or his Law, Legislation, and Liberty, his trilogy, one of his last uh big works. Um but he also worked on monetary theory.
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