F. A. Hayek (1899–1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economic Sciences in 1974, was a pioneer in monetary theory and one of the principal proponents of classical liberal thought in the twentieth century. He taught at the London School of Economics, the Universityof Chicago, and the Universityof Freiburg. Bruce Caldwell is Research Professor of Economics and the Director of the Center for the History of Political Economy at Duke University. He is the current general editor of The Collected Works of F. A. Hayek.