Ludwig von Mises

Alan Ebenstein

Chapter 4 in Hayek’s Journey, 2003, pp 35-56 from Palgrave Macmillan

Abstract: Abstract A passage in The Constitution of Liberty sheds light on Hayek’s family circumstances while growing up: “As a rule, parents can do more to prepare their children for a satisfactory life than anyone else. This means not only that the benefits which particular people derive from their family environment will be different but also that these benefits may operate cumulatively through several generations…. There is, indeed, good reason to think that there are some socially valuable qualities which will be rarely acquired in a single generation but which will generally be formed only by the continuous efforts of two or three…. There is … neither greater merit nor any greater injustice involved in some people being born to wealthy parents than there is in others being born to kind or intelligent parents.” Hayek’s parents were kind and intelligent, and even somewhat wealthy.

Keywords: Monetary Policy; Federal Reserve; Austrian School; Economic Thought; Economic Calculation (search for similar items in EconPapers)
Date: 2003
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-4039-7379-5_4

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DOI: 10.1007/978-1-4039-7379-5_4

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