“Hayek's work on price theory is central to my own thinking about how to manage the Wikipedia project. … [O]ne can't understand my ideas about Wikipedia without understanding Hayek.”

—  Jimmy Wales

Jimmy Wales, cited by Katherine Mangu-Ward, &quot; Wikipedia and Beyond: Jimmy Wales&#x27; sprawling vision http://reason.com/archives/2007/05/30/wikipedia-and-beyond,&quot; Reason (June 2007). <br class="br">Also cited by Morton Winston and Ralph Edelbach, Society, Ethics, and Technology 4th ed. (Boston, MA: Wadsworth, 2012), p. 200.

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Jimmy Wales48
Wikipedia co-founder and American Internet entrepreneur 1966

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“It is not so well known that it [Keynes's and my own move from thinking in terms of price-levels and the rate of interest to thinking in terms of inputs and outputs] is matched by a movement from Hayek to Harrod. I once asked Harrod what had put him on to the construction of his so-call 'dynamic' theory; he said, to my surprise, that it was thinking about Hayek.”

John Hicks (1904–1989) British economist

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“I can date my own personal 'revolution' rather exactly to May or June 1933. It was like this. It began… with Hayek. His "Prices and Production" is one of the influences that can be detected in The Theory of Wages; it could not have been otherwise, for 1931 was a Prices and Production year at the London School of Economics… I did not in fact find it all easy to fit in with my own ideas. What started me off in 1933 was an earlier work of Hayek's, his paper on 'Intertemporal Equilibrium', an idea which I found easier to reduce to my preferred (Paretian or Wicksellian) pattern.”

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“The time component of economic production became vital in Hayek’s work in economic theory. Essentially, his economic work could be said to rest on the idea that the price system is a method for coordinating economic activity through time.”

Alan O. Ebenstein (1959) American political scientist, educator and author

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“I did not call him "Fritz." To me he remained always "Professor Hayek," despite his own graciousness in treating me as a peer. I shall not attempt to evaluate Professor Hayek's monumental contribution to our understanding of the events of this turbulent century, to the influence of his ideas on these events themselves or even to the development of economic theory in a strictly scientific sense.”

James M. Buchanan (1919–2013) American economist

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“Hayek expressed more fully and deeply than Mises the epistemological argument for free market order. The crucial issue for Hayek became not that without prices individuals cannot calculate (though he thought this to be the case), but that the division of knowledge renders centralized control of an economy or society impossible.”

Alan O. Ebenstein (1959) American political scientist, educator and author

Hayek's Journey: The Mind of Friedrich Hayek (2003)

“In the years after 1936, whilst Hayek was working on The Pure Theory of Capital, most economists were convinced by Keynes, whose theory had an elegance and simplicity that Hayek’s did not. Keynes’ theory lacked Hayek’s theoretical rigor in that it was not based on equilibrium (on individual rationality), and there were places in the argument where Keynes relied on loose, informal arguments, preferring to put his trust in intuition rather than formal theory. Keynesians did not solve the problems with capital theory that Hayek had identified: they just bypassed or ignored them. According to Hayek’s methodological criteria, Keynes’ theory was decidedly inferior. Against this, Keynes’ theory provided opportunities for mathematical and statistical analysis that Hayek’s did not. Indeed, though Hayek paid some attention to data, he did so only minimally: he certainly made no attempt to test his theory against statistical data. The choice of Keynesian theory was, at least in part, a methodological one.”

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“The 'new theory of money and the cycle' which is spoken of in the opening paragraph is of course Hayek's. It was from Hayek that I began - where I got to will be seen. Even at the end, I was minimising my differences from Hayek. I could do so because, as I have elsewhere explained (Economic Perspectives, p. 141n), I still thought, like Pigou and Robertson, and Hayek, but by that time unlike Keynes, that 'we were talking about fluctuations, which, since they did not result in complete collapse or complete explosion, could not have engendered an expectation of going on forever. Booms could then be considered as times of high prices, slumps as times of low prices - with regard to some norm, which throughout the which throughout the fluctuations would not be changed, or not much changed'.”

John Hicks (1904–1989) British economist

Source: Money, Interest and Wages, (1982), p. 28; on his "Equilibrium and the Cycle" (1933), an influential work on the topics of intertemporal equilibrium, monetary theory, and trade cycle phenomena.

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“Julian: “Wikipedia knows about everything. It might be run by warlocks.”
Emma: “You think that’s what they do all day in the Spiral Labyrinth? Run Wikipedia?”
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“It is probably best to start off by noting that Hayek knew a lot about Mill, probably for a time more than any other contemporary scholar. So we should not underestimate him.
Next, what he had to say about Mill, what portion of Mill’s work he drew upon, was very much dictated by the sort of project he was working on. When he was making an argument about how the British liberal tradition lost its bearings, or about how Comtean positivism came to be known and gained influence across Europe, Mill was classed among the perpetrators. When he was writing about what made the British liberal tradition great, Mill could be one of the heroes. There is, I think, no inconsistency in the fact that Hayek could hold both views simultaneously.”

Bruce Caldwell (economist) (1952) economic historian

"Hayek and Mill", History of Political Economy (2008)

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