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- MILESTONES, Page 64
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- DIED. Friedrich Hayek, 92, economist whose 1944 book The Road
- to Serfdom, a critique of socialism, made him a hero to
- conservatives; in Freiburg, Germany. Hayek influenced American
- economists with his seminars at the University of Chicago in the
- 1950s and '60s. He argued that governments that intervene in the
- marketplace with price controls and income-redistribution
- schemes inevitably become tyrannical. The collapse of the
- command economies in the Soviet Union and Eastern Europe was
- vindication of Hayek's views. He shared the 1974 Nobel Prize for
- Economics with Gunnar Myrdal.
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