Friedrich Hayek was an Austrian Economist known for his work on the <em>Theory of Money</em>, which earned him a Nobel Memorial Prize in 1974. He openly supported classic liberalism, which emphasized the economic freedom of all individuals who formed part of society.
Hayek opposed expansionary spending (or expansionary monetary policy) because he considered, following principles of liberalism, that government intervention in the economy should be kept at its minimum expression. It is up to individuals and the economic relations they form as to whether an economy grows or not. The increase of money supply in a country could bring negative effects such as <em>inflation, </em>which is the sustained increase in the prices of goods and services.
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Self knowledge leads us to self-awareness. In a way that if we have knowledge of what happened around us, you already know what are the things to do and are the best things to do, making you aware of the things that you should be doing and what are these choices and path will lead you to.
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