Manuel F. Ayau, a visionary and tireless leader, founded Universidad Francisco Marroquín (UFM) through a deep desire to build and rebuild a more prosperous Guatemala. He firmly believed in the transformative power of classical liberal ideas: the free market, private property, and individual liberty. For Muso, these principles were not only the key to economic progress but also the tools to empower each individual to reach their fullest potential through effort and self-improvement.
Convinced that liberty is the path to prosperity, Muso dedicated his life to spreading these principles, believing that a truly free society allows individuals to forge their own destiny. In honor of his legacy and unwavering faith in the power of these ideas, the Manuel F. Ayau Society was founded—an initiative whose purpose is to perpetuate this legacy.
The Manuel F. Ayau Society not only educates but also inspires future professionals to go into the world armed with the principles of the free market, holding firmly to the conviction that in liberty they will find the tools to transform their surroundings and build a more just and prosperous society. Thus, Muso’s legacy remains alive.
The funds raised in his memory are used to support two initiatives that he was passionate about: the ITA scholarship program and the visiting professors program in economics.
ITA Program (Promoting Academic Talent)
Manuel F. Ayau Scholar
The ITA scholarship program aims to identify the most talented, motivated, and economically disadvantaged students, and providing them with the opportunity to receive the necessary support to pursue higher education at Universidad Francisco Marroquín. The Manuel F. Ayau Scholar award was created to honor Muso’s legacy, as he firmly believed in spreading the message of liberty to every corner of the country. These young individuals can return to their communities to spread the ethical, legal, and economic principles of a society of free and responsible persons—UFM’s very mission—multiplying its impact and transforming paradigms.
The Manuel F. Ayau Scholar award is given each year to a second-year ITA student, recognizing their exceptional talent from among a group of talented young people. This individual is an example of diligence, intellectual curiosity, and hard work. Such a young person takes ownership of the consequences of his actions, challenges himself, and uses all available means to achieve his goals. It is an individual who serves as an inspiration to all and spreads his commitment to living a free and responsible life.
The selection process is no easy task, as all who form part of the ITA scholarship program share many of these qualities.
“My dream of becoming an economist makes me wake up every day with the desire not to be defeated, to prove to myself that I am capable, and that there are no insurmountable limits.”
Betzy Sandoval, School of Economic Sciences
First Manuel F. Ayau Scholar, 2011
Olga de Ayau, presenting the Manuel F. Ayau Scholar recognition to Emilie Adant, from the Faculty of Law.
Visiting Professors Program in Economics
In his memoirs about the founding of Universidad Francisco Marroquín, Muso recounts the initial challenges of finding professors to teach economics. In the 1970s, few were familiar with the principles of the Austrian School of Economics, the cornerstone of the ideas that UFM sought to promote.
Muso recalls that, with determination and dedication, they invited prominent international professors such as Mario Cortés, from Chile, American professor Paul Gibson, and, providentially, Joseph Keckeissen, an American who had studied for six years at the Ludwig von Mises’s New York University seminar and decided to stay on in Guatemala, making a profound contribution to the academic development of the university.
In the third year, professors from abroad were hired who shared UFM’s philosophical inclinations. Among them, the most prominent and inspiring was Alberto Benegas Lynch Jr., from Argentina, who stayed at UFM for three years. The suggestion to bring Alberto Benegas Lynch Jr. came from Joaquín Reig, who was visiting Guatemala to attend the regional meeting of the Mont Pelerin Society in September 1972. Reig allocated a monthly donation of US$1,000 to help bring him.
In keeping with Muso’s vision, each year UFM invites international experts in economics, from various universities and with rich professional experience. These minds bring with them a diverse intellectual background, reinforcing the learning of classical liberal principles and demonstrating to students how liberty is the fundamental pillar for generating prosperity. These individuals not only offer new perspectives and innovative approaches to economics but also inspire students to question and understand how the principles of economic freedom can transform entire societies.
Muso, who was a professor to many UFM graduates, always understood that teaching these principles goes beyond theory; it is an invitation to apply these ideas in real life, opening the way to prosperity.
During his stay in Guatemala, Alberto Benegas Lynch (h) (Visiting Professor) participated in the presentation of the honorary doctorate to Leonard Read and Henry Hazlitt (July 10, 1976). From left to right: Manuel F. Ayau C., Joaquín Reig Albiol, Henry Hazlitt, Leonard Read, and Alberto Benegas Lynch (h).
The Manuel F. Ayau Society was established by UFM and the US Friends of UFM to keep Muso’s ideas alive. Supporting the program helps us train the next generation of leaders committed to the ideas of liberty.
Donations to UFM are tax-deductible in Guatemala, and tax-deductible donations in the United States can be made through Friends of UFM.