Friedrich A. Hayek (1899-1992) left such a profound mark on economic and
political thought that The New Yorker has called the 20th century, "The
Hayek Century." After converting to free-market capitalism and
classical liberalism in the 1920s, Hayek became one of socialism's and
statism's staunchest critics. His 1944 bestseller, The Road to Serfdom,
warned of central government planning's authoritarian, and even
totalitarian, tendencies- and helped reignite worldwide interest in the
philosophy and practice of freedom. Although Hayek's 1974 Nobel Prize in
Economic Science brought renewed interest in his ideas, it wasn't until
the collapse of the Soviet Bloc (which Hayek predicted) that his vast
writings on economics, political philosophy, law, history, culture, and
other fields became broadly recognized as essential to achieve a
prosperous, humane and free society. Biographer Alan Ebenstein and
economist Charles Baird shed light on Hayek's seminal legacy and the
rebirth of freedom.
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