-length engagement with Hayek's thought from this perspective. Hayek argued that the capitalism we see in advanced civilizations is an … capitalism, Beck's excavation of this little-known strand of Hayek's thought - and its failure - is timely and instructive …

Many economists have defended capitalism; most have tried to do so within the self-imposed methodological constraint … defenses of capitalism—by Milton Friedman, James Buchanan, and Friedrich Hayek—and argues that each fails on its own terms …