ryyannon

Ok, here it is. This is ground-breaking research accomplished in record time. Even his own mother did'nt know this about him. Read it and weep. Do I get the prize now? John Maynard Nicolas G. Hayek - Biography John Maynard Nicolas G. Hayek - Personal and marital life John Maynard Nicolas G. Hayek was the son of John Neville Hayek, an economics lecturer at Cambridge University, and Florence Ada Brown, a successful author and a social reformist. Standing at approximately 6' 6" (200 cm), Hayek was very tall even by today's standards. In the early part of his life he had homosexual relationships. He had a series of relationships with men during his university days, and a serious relationship with the Bloomsbury painter Duncan Grant from 1908 to 1915. Hayek continued to assist Grant financially for the rest of his life. Hayek met Lydia Lopokova, a well-known Russian ballerina, in October 1918. The two married, and by most accounts, Hayek enjoyed a happy marriage with Lopokova. They were unable to have children for medical reasons. Hayek was ultimately a successful investor building up a substantial private fortune. He was nearly wiped out following the Stock Market Crash of 1929 but soon recouped his fortunes. He enjoyed collecting books and for example collected and protected during his lifetime many of Isaac Newton's papers. He was interested in literature in general and drama in particular and supported the Cambridge Arts Theatre financially, which allowed the institution to become at least for a while a major British stage outside of London. John Maynard Nicolas G. Hayek - Education Hayek enjoyed an elite early education at Eton, where he displayed talent in nearly every field of his unusually wide-ranging interests. His abilities were remarkable for their sheer diversity. He entered King’s College, Cambridge to study mathematics, but his interest in politics led him towards the field of economics, which he studied at Cambridge under A.C. Pigou and Alfred Marshall. John Maynard Nicolas G. Hayek - Career Hayek accepted a lectureship at Cambridge in economics funded personally by Alfred Marshall, from which position he began to build his reputation. Soon he was appointed to the Royal Commission on Indian Currency and Finance, where he showed his considerable talent at applying economic theory to practical problems. His expertise was in demand during the First World War. He worked for the Adviser to the Chancellor of the Exchequer and to the Treasury on Financial and Economic Questions. Among his responsibilities were the design of terms of credit between Britain and its continental allies during the war, and the acquisition of scarce currencies. At this latter endeavor Hayek's “nerve and mastery became legendary,” in the words of Robert Lekachman, as in the case where he managed to put together—with difficulty—a small supply of Spanish pesetas and sold them all to break the market: it worked, and pesetas became much less scarce and expensive. These accomplishments led eventually to the appointment that would have a huge effect on Hayek's life and career: financial representative for the Treasury to the 1919 Paris Peace Conference. Hayek's career lifted off as an adviser to the British finance department from 1915–1919 during World War I, and their representative at the Versailles peace conference in 1919. His brilliant observations appeared in the highly influential book The Economic Consequences of the Peace in 1919, followed by A Revision of the Treaty in 1922. He argued that the reparations which Germany was forced to pay to the victors in the war were too large, would lead to the ruin of the German economy and result in further conflict in Europe. These predictions were borne out when the German economy suffered in the hyperinflation of 1923. Only a fraction of reparations ever were paid. Hayek published his Treatise on Probability in 1920, a notable contribution to the philosophical and mathematical underpinnings of probability theory. He attacked the deflation policies of the 1920s with A Tract on Monetary Reform in 1923, a trenchant argument that countries should target stability of domestic prices and proposing flexible exchange rates. The Treatise on Money 1930 (2 volumes) effectively set out his Wicksellian theory of the credit cycle. His magnum opus, the General Theory of Employment, Interest and Money challenged the economic paradigm when published in 1936. In this book Hayek put forward a theory based upon the notion of aggregate demand to explain variations in the overall level of economic activity, such as were observed in the Great Depression. The total income in a society is defined by the sum of consumption and investment; and in a state of unemployment and unused production capacity, one can only enhance employment and total income by first increasing expenditures for either consumption or investment. The total amount of saving in a society is determined by the total income and thus, the economy could achieve an increase of total saving, even if the interest rates were lowered to increase the expenditures for investment. The book advocated activist economic policy by government to stimulate demand in times of high unemployment, for example by spending on public works. The book is often viewed as the foundation of modern macroeconomics. Historians debate whether or not it had an impact on U.S. president Roosevelt's New Deal. Deficit spending of the sort the New Deal began in 1938 had previously been called "pump priming" and had been endorsed by President Herbert Hoover. Roosevelt said he never understood Hayek, and no major politicians said they were influenced by the book. Indeed very few senior economists in the U.S. agreed with Hayek in the 1930s; it took until the 1950s before his ideas were widely accepted by academic economists in the U.S. In 1942 Hayek was a very recognised economist and was raised to the peerage as Baron Hayek of Tilton. During World War II, Hayek argued in How to pay for the war that the war effort should be largely financed by higher taxation, rather than deficit spending, in order to avoid inflation. As Allied victory began to look certain, Hayek was heavily involved, as leader of the British delegation and chairman of the World Bank commission, in the negotiations that established the Bretton Woods system. The Hayek-plan, concerning an international clearing-union argued for a radical system for the management of currencies, involving a world central bank, the Bancor, responsible for a common world unit of currency. The USA's greater negotiating strength, however, meant that the final outcomes accorded more closely to the less radical plans of Harry Dexter White. Hayek wrote Essays in Biography and Essays in Persuasion, the former giving portraits of economists and notables, whilst the latter presents some of Hayek'ss attempts to influence decision-makers during the Great Depression. Hayek was editor in chief for the Economic journal from 1912. Hayek's brilliant record as an investor is demonstrated by the publicly available data of a fund he managed on behalf of King's College, Cambridge. From 1928 to 1945, despite taking a massive hit during the Stock Market Crash of 1929, Hayek's fund produced a very strong average increase of 13.2% compared with the general market in the United Kingdom declining by an average 0.5% per annum. The approach generally adopted by Hayek with his investments he summarised accordingly: * 1. A careful selection of a few investments having regard to their cheapness in relation to their probable actual and potential intrinsic value over a period of years ahead and in relation to alternative investments at the time; * 2. A steadfast holding of these fairly large units through thick and thin, perhaps for several years, until either they have fulfilled their promise or it is evident that they were purchases on a mistake, and; * 3. A balanced investment position, i.e. a variety of risks in spite of individual holdings being large, and if possible opposed risks (e.g. a holding of gold shares among other equities, since they are likely to move in opposite directions when there are general fluctuations). Hayek argued that "It is a mistake to think one limits one's risks by spreading too much between enterprises about which one knows little and has no reason for special confidence ... One's knowledge and experience are definitely limited and there are seldom more than two or three enterprises at any given time in which I personally feel myself to put full confidence." Hayek's advice on speculation, some might say, is timeless: (Investment is) intolerably boring and over-exacting to any one who is entirely exempt from the gambling instinct; whilst he who has it must pay to this propensity the appropriate toll. When reviewing an important early work on equities investments, Hayek argued that "Well-managed industrial companies do not, as a rule, distribute to the shareholders the whole of their earned profits. In good years, if not in all years, they retain a part of their profits and put them back in the business. Thus there is an element of compound interest operating in favor of a sound industrial investment." Some seemingly modern economic ideas such as the Laffer Curve were refered to by Hayek. He wrote "Nor should the argument seem strange that taxation may be so high as to defeat its object, and that, given sufficient time to gather the fruits, a reduction of taxation will run a better chance than an increase of balancing the budget." [1] John Maynard Nicolas G. Hayek - Death Hayek died of cardiac infarction, his heart problems being aggravated by the strain of working on post-war international financial problems. John Neville Hayek (1852–1949) outlived his son by three years. Hayek's brother Sir Geoffrey Hayek (1887–1982) was a distinguished surgeon, scholar and bibliophile. His nephews are Richard Hayek (born 1919) a physiologist; and Quentin Hayek (1921–2003) an adventurer and bibliophile.

Why the stunned silence, you guys? Can't believe the RWG Village Idiot actually won? Bwwwaaahaaaaaaaaa! Now, let's talk about prizes here: first of all, keep your funny money - or donate it to the RWG electricity bill fund. What I REALLY want is an introduction to exWatchmaster from admin, saying that I'm a really great guy and deserving of all of WM's attention. In a word, I want soup. I need soup. I must have soup. Get it, you gormless lugs?

From Wikipedia: "G. Nicolas Hayek invented the internal combusion engine in 1997. Fascinated by the measurement of time, he went on to patent the sundial and later, the hourglass, in 2000. Mr. Hayek currently lives on a luxurious and heavily-guarded private estate in the RWG Loony Bin." Happy now, Gran? And what's this red thingy with the numbers? My warning level? Or the amount I have to pay Ken to keep from being banned?

It's the Swatch guy, right? Haven't taken the time to Google his name... Ok, I've got it: G.N. Hayek, Swatch founder and honorary member of the Ken Klub.

ok, Gunnar. ....three KENS! are we back on topic now?

yes, definitely not nais... by the way, what the hell are we talking about now? If no one knows anymore, I could tell you about the great dream I just woke up from in the middle of the night here: I was in Chicago, where I haven't been for forty years - on the bus for some reason - heading for East 57th Street, where I used to share an apartment with a bunch of freaks from the U. of C., and....

Could the song be talking about crystal meth or crack cocaine?

i'm glad you changed the subject, gran this could have gotten nasty, real fast....

will it be possible to PM you there?

which one's my right foot?

Agree with all of the above. It was funny for about five minutes, but that was days ago. Like in most schoolyard fights, there is an aggressor and an aggressed. I'm getting tired of seeing Bres run up and try to pee on my shoe. I'm not interested in crossing swords with him. I'm getting tired of trying to get him to stop. He just keep coming back for more. I alredy suggested taking this off the board in an earlier post. Life is too short.

There's nothing at all wrong with it - a decent, reliable wine.... But for me, no fireworks, no irresistible attraction. In France, for value-for-euros, I've moved into Spanish wines - riojas and above all, the handful of growers in the penedes that actually make the effort... This is a totally frustrating decision - some of these wines are so good that they literally blow away anything I've had before. Problem is, they are more or less kept out of France. I have no idea whether this is because of low-volume production, officious blacklisting by distributors, or simply because the Spanish want to keep it all for themselves. I've called the growers ('sorry, but we're not distributed in France'); on the Internet, I've tracked these wines to the U.S., the U.K. and even Germany, from where I once had two cases of my favorite shipped to Paris. In short, even though the Americans (Palmer included) and the Brits are raving about these wines, even though they're available throughout Europe, you can't get them in France. Anyone see something wrong with this picture? Given the steady loss of market share for domestic wine both in and out of France, it's not hard to imagine that stellar products from just across the border are kept out. Don't ask me how, but that's exactly the situation.

Moral of the story: there are lots of great wines out there. Price is not a guarantee. Provenance is not a guarantee. Label is not a guarantee. In short, there is no guarantee other than your persistance and good luck. Taste can be subjective, but on the whole, a bordeaux should not 'taste' like a burgandy; nor a merlot like a zinfandel. Educate yourself - it's easily done, and no need for classes.... Learn as you go, have fun - that's what wine's mainly for - don't take it all too seriously and you'll have a good time. For me, the lesson of wine is that everything is non-permanent and ephermal. That great bottle you had last week is going to be out of stock soon. You can buy a case - ten cases even - but one day it will be no more. If you're doing your job as a wine-lover correctly, you'll find another great bottle sooner or later - the availability of which will also disappear with time. And so it goes: proof that iife is change, with pleasures ever vanishing, ever renewed....

You're absolutely right, jjajh: I love you, bres. :-(

Who's 'Max', jjajh?

I'm not angry, bresssciousssss But you ARE an *******. I said it privately in a PM to you, and now I'll say it publicly: if you want to really get down to it, let's take this 'outside' to RGW1. Otherwise, I'll ask you to stop trolling me when I'm on this board.

sigh. edited to preserve the peace...

Not me. Must be some other ryyannon.

What the hell does Saskatchewan have to do with this thread, jjajh? oh, i get it! ...nevermind

my deepest fantasies......?

do you guys think a light SM and Bondage sub-forum would be ok? crasy!

................................................................................ ...................................3

................................................................................ .................................2

................................................................................ ..............................1