In this article, the formation of Hayek and Polanyis economic thoughts will be discussed on the basis of the argument which states that thoughts of the philosphers could not be isolated from time and place where they lived. Put differently, it is claimed that the ideas and the ideologies of Hayek and Polanyi, who lived amidst the turmoil surrounding the short twentieth century at nearly the same time and the same geography, were formed according to the discrepancies in the places where they live (budapest vs. vienna) and the cultural climate that surrounds them.
Key words: Hayek, Polanyi, Vienna, Budapest, Galileo Circle, Von Mises Article Language: EnglishTurkish
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