Reconnecting with Hayekian ideas to face the challenges of our time
Modern economics needs diversity of thought and open debate to overcome the many challenges we face, from coming to grips with a global pandemic to climate change, growing social inequalities and geopolitical instabilities.
The Hayek Programme in Economics and Liberal Political Economy, named after one of the foremost liberal thinkers of the 20th century and former member of LSE’s Department of Economics, will help engage with Hayekian economic and political ideas and provide a space where dialogue can happen.
Under Professor Tim Besley’s academic leadership, the programme will foster debate among students, academics, researchers, policymakers and experts from a range of disciplines to find solutions to our most pressing problems and shape a better future for all.
The programme is supported by alumni Alison Rankin Frost (BA International History 1987) and her husband Tim Frost (BSc Government 1987), whose generous commitment will facilitate the development of academic seminars, research funds and public lectures to build on LSE’s existing teaching and research strengths and deliver social impact.
Better decision making and better decisions are a result of greater diversity of thought. The Hayek Programme will provide an opportunity for ideas to be raised and discussed. It will be both a beacon and an umbrella for liberal thinkers and will celebrate the work of one of LSE’s most renowned professors. We have many complex challenges ahead and the work of the Hayek Programme will seek to identify these challenges and provide ways to address them.
Alison’s and Tim’s support will help us bring diverse perspectives and disciplinary approaches to discuss some of the major challenges facing the world today. Themes in Hayek’s work such as how to manage knowledge in a market economy, the role of entrepreneurship in solving societal problems and how liberal political institutions foster flourishing lives are just as relevant as they were in Hayek’s day.