Founder of the Universidad Francisco Marroquín, Guatemala
Manuel Ayau

Manuel Francisco Ayau Cordón (27 December 1925 – 4 August 2010) was the Founder of the Universidad Francisco Marroquín in Guatemala, a leading private University in Latin America. He was born in Guatemala City on 27 December 1925. After diverse studies, he obtained a B.S. in Mechanical Engineering from Louisiana State University in 1950, an L.H.D. from Hillsdale College in 1973 and an honorary degree in law (Legum Doctor) from Northwood University in 1994.


Universidad Francisco Marroquín, Founder, President emeritus
Mont Pelerin Society, President, 1978-80

Web Pages

Manuel Ayau - Online Library of Liberty
Includes picture, short biography and links to two interviews with Ayau
"Manuel Ayau (1925-2010) was the founder and former rector and teacher of economics at Universidad Francisco Marroquin. Begun as an alternative to the prevailing statist views of higher education in Guatemala, Francisco Marroquin is now regarded as that country's finest university. In addition to being a successful businessman, Ayau is a former Chairman of the Guatemala Stock Exchange, was a member of the Guatemala House of Representatives, and served as President of the Mont Pelerin Society. He also served for many years on the Board of Liberty Fund."


The Early History of FEE, by Henry Hazlitt, The Freeman, Mar 1984
Excerpted from Hazlitt's remarks at the Leonard E. Read Memorial Conference on Freedom, November 1983
"Another effect of Leonard’s initiative soon followed. Other libertarian foundations were set up in emulation. ... Manuel Ayau in Guatemala established his libertarian Universidad Francisco Marroquín."


Capitalism and Statism in Latin America, 4 Oct 1997
Speech given to The Philadelphia Society, San Antonio, Texas regional meeting
"South and Central America have suffered and lived under what Adam Smith condemned as the mercantile system, better known later as mercantilism, inherited from Spain and Portugal since colonial days, with the few exceptional decades in the end of last century and beginning of the present."
Related Topic: Latin America
Give Freedom Its Turn in Latin America, Imprimis, Nov 1984
Paper given at Hillsdale College
The Impoverishing Effects of Foreign Aid [PDF], Cato Journal, 1984
Analyzes the 1980s debt crisis, from the viewpoint of creditor and debtor countries, suggesting some solutions such as removing trade barriers, ending debtor government interventionist policies and creditor government foreign aid and subsidized bail-outs
"The way the current debt crisis of some countries is frequently being analyzed is reminiscent of prior occasions when the solution was considered to be subsidized bail-outs of debtor nations by the governments of lending nations or by international financial agencies. These attempted solutions, however, have in most cases aggravated the problem. And those debtor nations that have achieved some economic success have achieved it in spite of, not because of, foreign aid. ... More important than where we are is where we are going. And there is little question that the social cost of change is much lower than the social cost of not changing."

Books Authored

El Proceso Económico, 2000

The introductory paragraph uses material from the Wikipedia article "Manuel Ayau" as of 30 Jan 2018, which is released under the Creative Commons Attribution-Share-Alike License 3.0.