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Hayek Center for the Business of Prosperity

Hayek Center logoAt its April 2018 meeting, Clemson University's Board of Trustees approved the founding of the Hayek Center for the Business of Prosperity. The Hayek Center will be a hub of research and teaching that explores critical questions surrounding the role of business as a means of improving the human condition. The center is named for Nobel Prize-winning economist Friedrich Hayek.

Undergraduate Education

Nationwide, undergraduate business education is primarily focused on how to do business. We believe students must also understand why business is critical: it allows people to enrich each other's lives. The Hayek Center will support a variety of undergraduate activities such as speaker events, reading groups, and independent research projects. The center will also support the College of Business in curriculum and faculty development, most notably in the development of a "Why Business?" course that engages students in the College of Business and across the University.

Academic Research

The Hayek Center will support new faculty hires and provide release time for existing faculty to participate in center activities. These faculty, housed in departments across the College of Business and hired in full accordance with Clemson University's Faculty Manual, will conduct research and publish scholarship in peer-reviewed journals on myriad topics exploring the fundamental purpose of business. The center will also support graduate fellows, post-doctorates, and visiting scholars from other universities and colleges.

Community Engagement and Outreach

The Hayek Center will host research workshops, conferences, public lectures, and various outreach activities that disseminate research by affiliated faculty and students. As appropriate, center scholars will be available for congressional testimony and media interviews.


Reed Watson, Professor of Practice in the Economics Department and a 2004 graduate of Clemson University, directs the center, leading its daily operations and fundraising efforts and reporting directly to the Dean of the College of Business.

Financial Support

The Hayek Center is funded entirely by private gifts. While we have secured multiple grants to launch the center and develop the "Why Business?" courses, additional funding is necessary to execute our full strategic plan. Please contact Reed Watson or Mark Ostapenko to discuss giving opportunities or use our online giving form and choose "Hayek Center for Business" in the designation menu.