<DIV><P> The Reagan and Thatcher "revolutions." The collapse of  Eastern Europe dramatically captured in the tearing down of  the Berlin Wall. F. A. Hayek, "grand old man of capitalism" and founder of the classical liberal, free-market revival which ignited and inspired these world events, forcefully...</p></div>

<DIV>Hayek gives the main arguments for the free-market case and presents his manifesto on the "errors of socialism." Hayek argues that socialism has, from its origins, been mistaken on factual, and even on logical, grounds and that its repeated failures in the many different practical applications...</div>

<DIV>Produced throughout the first fifteen years of Hayek’s career, the writings collected in <I>Capital and Interest</I> see Hayek elaborate upon and extend his landmark lectures that were published as <I>Prices and Production</I> and work toward the technically sophisticated line of thought seen in his later...</i></i></i></div>

<DIV>Produced throughout the first fifteen years of Hayek’s career, the writings collected in <I>Capital and Interest</I> see Hayek elaborate upon and extend his landmark lectures that were published as <I>Prices and Production</I> and work toward the technically sophisticated line of thought seen in his later...</i></i></i></div>

This is a reprint of a brief essay originally published in 1951. Hayek looks back on the age of liberalism and its collapse. During the generations of growing darkness, there were a few figures who bridged the age of liberalism and the postwar revival of its ideas and values. Hayek identifies...