"In a bold new book about Hayek, the George Mason economist says "too much time and effort has been put into repackaging and marketing a fixed doctrine of eternal truths."
by Nick Gillespie
"With populism on the rise, capitalism under attack, and socialism back in vogue, the work of Austrian economist Friedrich Hayek (1899–1992) is more relevant than ever. Hayek started his career as a wunderkind professor, joining the faculty of the London School of Economics in his early thirties, and was a central figure in the debates that consumed the profession during the Great Depression. He would go on to spend most of his seven-decade long career as an outsider, his work diverging from the mainstream following the Keynesian revolution of the 1930s and '40s. Eventually the world circled back to Hayek's ideas, and he was one of two recipients of the 1974 Nobel Memorial Prize in Economics.
"Today, Hayek is best known for his enduring insights on emergent order, for his critique of central planning, and for his argument that all knowledge in society is decentralized and that a modern economy thus relies the coordinating role of prices and private property. In his final book, The Fatal Conceit, Hayek attacked wrote that "the curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."
