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Text File  |  1992-08-28  |  712b  |  19 lines
  1.                                                                                 MILESTONES, Page 64
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  4.     DIED. Friedrich Hayek, 92, economist whose 1944 book The Road
  5. to Serfdom, a critique of socialism, made him a hero to
  6. conservatives; in Freiburg, Germany. Hayek influenced American
  7. economists with his seminars at the University of Chicago in the
  8. 1950s and '60s. He argued that governments that intervene in the
  9. marketplace with price controls and income-redistribution
  10. schemes inevitably become tyrannical. The collapse of the
  11. command economies in the Soviet Union and Eastern Europe was
  12. vindication of Hayek's views. He shared the 1974 Nobel Prize for
  13. Economics with Gunnar Myrdal.
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