Winston S. Churchill Portrait from the Collection of F.A. Hayek.

CHURCHILL, Winston S.; Friedrich August von Hayek [F.A]; Arthur Pan.

Item Number: 103258

Limited print of Arthur Pan’s iconic portrait of Winston S. Churchill from the collection of Nobel Prize-winning economist F.A. Hayek. Signed by Winston Churchill beneath his portrait in facsimile, “Winston S. Churchill” and with two notes affixed to the verso detailing the work’s provenance entirely in Hayek’s hand, one of which is inscribed on his business card from Frieburg University and the other of which is signed, “8-5-79 F.A. Hayek.” With an additional transcription of Hayek’s notes in English to the verso which reads, “This picture belonged to Squadron Leader H.O. Fairclough R.A.F. who served in the 1939-45 war. It was given to Esca Drury’s (now Hayek) niece and is now given to F.A. Hayek.” Double matted and framed, the entire piece measures 26 inches by 30 inches. In fine condition. An exceptionally rare association piece linking two of the most ardent defenders of liberal democracy in the threat of fascism in 20th century Europe.

Widely considered one of the 20th century's most significant figures, British Prime Minister Winston S. Churchill remains popular in the Unite Kingdom and Western world where he is seen as a victorious wartime leader who played an important role in defending Europe's liberal democracy from the spread of fascism. Out of office during the 1930s, Churchill took the lead in calling for British rearmament to counter the growing threat from Nazi Germany. At the outbreak of the Second World War he was re-appointed First Lord of the Admiralty and in 1940 he became Prime Minister, replacing Neville Chamberlain. Churchill oversaw British involvement in the Allied war effort against Germany and the Axis powers, resulting in victory in 1945. His wartime leadership was widely praised and among his many awards was the Nobel Prize in Literature. Anglo-Austrian economist and philosopher Friedrich August von Hayek was awarded the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for his "pioneering work in the theory of money and economic fluctuations and [...] penetrating analysis of the interdependence of economic, social and institutional phenomena". He was additionally appointed a Companion of Honour in 1984 for "services to the study of economics" in 1984 and received the Presidential Medal of Freedom in 1991 from President George H. W. Bush. Hayek composed the most influential and popular exposition of classical liberalism in 1944, The Road to Serfdom, in which he deviated from the contemporary British academy which saw fascism as a capitalist reaction against socialism. He argued instead that fascism and socialism result from central economic planning and the power of the state over the individual. He further developed these philosophical principles in Law, Legislation and Liberty (widely considered his magnum opus) and, later, The Constitution of Liberty.