Hayek would like us to live in peace with all people, if possible, and to accept ourselves and the world as we are. Asked if he feels happy at the end of his life he answered: “It is my general view of life that we are playing a game of luck, and I have been lucky in this game.”
F.A. Hayek was awarded the Nobel Prize in Economics in 1974. He contributed, among other things, to the theory of prices, business cycle, and money, for which he won the prize. However, several critics call him a “non-economist” or a “repeater” of L. von Mises’s theories. He has long been in dispute with J. M. Keynes.
F. A. Hayek belonged to the so-called Austrian School of Economics. This school can be understood as a school of economic thought or a branch of libertarian ideology inspired by Austrian economists. Here is some recommended reading for further exploration
Slovakia is a small country. It cannot afford to be uneducated. Still, the country has been sinking in the PISA rankings that measure “smartness” by comparing results of educational systems. Many small countries rank ahead of Slovakia.
The Slovak pension, education, and health systems and services should not depend on the government holding power at any given time. Instead, a fundamental political consensus is required. Better than calls from abroad for Slovakia to behave more rationally, the nation itself must come to its senses.
Today´s world is a product of values, stances, and deeds of previous generations. Those were formed by political institutions, economies, and social relations. These factors guided the world´s modus operandi. But this world is disappearing.
This month, Slovak economy unpleasantly surprised the Slovak government, when the newly released economic numbers showed a relatively significant drop in the growth rate of the economy compared with the earlier expectations.
Some people claim that the main reason why gold became money was that women liked it. Others claim that it is the faith that makes us use a certain good as money. By that logic, even water could become money just by virtue of us having faith in it.
Examples of senseless Slovak economic policy that combines financial and bureaucratic blows always aimed at a different sector of the economy are thick on the ground. One of the most memorable ones is the imposed levy on singular shops and chains, also known as “food tax”.