And I thank the Austrian Economists website for the tip. I had no idea.

He would be 109 today. Wiki entry here. An influential economist, he was a contemporary, intellectual adversary and friend of Keynes and gained notoriety for his famous book, The Road to Serfdom, which warned of the gradual decent toward fascism via idealistic and flawed socialism. In his later years, he turned more to social philosophy and received a Nobel Prize in Economics.

Few people have had as profound an effect on my thinking as Hayek. I suppose I could say that the single biggest effect is the frame of mind he puts the reader in the The Fatal Conceit, one of my favorite books...the theme of the "Fatal Conceit" is a more in depth version, IMO, of his famous paper The Use of Knowledge in Society, the basis for his Nobel Prize. The influence on one's thinking upon internalizing the message is one of humility and caution when faced with the complexity of society and possible "solutions". Ironic, when one considers the distorted assumption of arrogance that is placed at the feet of many of people of a Hayekian/libertarian persuasion.

I suppose the best and briefest way to convey the Fatal Conceit is a choice quote used Horwitz in the above link:

"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design." (The Fatal Conceit, p. 76)

and here is another along the same lines:

"The problem [of the economy] is precisely how to extend the span of our utilization of resources beyond the span of the control of any one mind; and therefore, how to dispense with the need of conscious control, and how to provide inducements which will make the individuals do the desirable things without anyone having to tell them what to do."

The effect is similar to change in perspective one gets when they realize the earth's true place in the universe as opposed to the flawed idea that it lies at the center.

This is all based on the nature of knowledge and customs according to Hayek, which are developed spontaneously from experience, customs and evolution and not rational or deliberate design. The implications of this, and they are many, are huge and form the bedrock of Hayek's contribution to social science as well as many of the obstacles economists have tried to grapple with since (whether they realize it or not). Indeed, last year's Nobel Prize winner received it for ground breaking work in trying to show it was possible to do or know something that Hayek claimed was impossible. Many Hayekians dispute the true value of the research and say it's so rudimentary as to be almost useless. Nevertheless, and ironically, if anyone ever does definitely prove Hayek wrong on these matters, it will be a great day because man will have truly leaped forward...not just in his mind but in reality. But I'm not holding my breath. :)

And Horwitz shares a wish for the approach and conduct of future debate...an approach which Hayek lived by:

We need more people willing to start with the assumption that those who disagree with them are only guilty of intellectual error rather than maliciousness or stupidity.

Indeed and Amen. Seeing thinkers harshly criticized and having their general view scorned to the core is something we see everyday. I take exception to seeing it done to Hayek more than almost any other because to negatively question his intent, where he was coming from and why is to totally miss the spirit of his life's work, what he thought and what drove him. He was a true liberal in the purest and truest sense of the word.