Collected Works Of Friedrich August Hayek 1988

In The Road to Serfdom F. A. Hayek set out the danger posed to freedom by attempts to apply the principles of wartime economic and social planning to the problems of peacetime. Hayek argued that the rise of Nazism was not due to any character failure on the part of the German people, but was a consequence of the socialist ideas that had gained common currency in Germany in the decades preceding the outbreak of war. Such ideas, Hayek argued, were now becoming similarly accepted in Britain and the USA.On its publication in 1944, The Road to Serfdom caused a sensation. Its publishers could not keep up with demand, owing to wartime paper rationing. Then, in April 1945, Reader's Digest published a condensed version of the book and Hayek's work found a mass audience. This condensed edition was republished for the first time by the IEA in 1999. Since then it has been frequently reprinted and the electronic version has been downloaded over 100,000 times. There is an enduring demand for Hayek's relevant and accessible message.The Road to Serfdom is republished in this impression with The Intellectuals and Socialism originally published in 1949, in which Hayek explained the appeal of socialist ideas to intellectuals - the 'second-hand dealers in ideas'. Intellectuals, Hayek argued, are attracted to socialism because it involves the rational application of the intellect to the organisation of society, while its utopianism captures their imagination and satisfies their desire to make the world submit to their own design.

Every student of the twentieth century has heard both of the great Viennese economist Friedrich von Hayek and of the equally great philosopher Ludwig Wittgenstein. But what isn't well known is that the two were distant cousins and that, shortly after Wittgenstein's death in 1951, Hayek set out to write a biography of his cousin. The project was derailed by Wittgenstein family members, who felt it was to soon to publish such a work. But Hayek's draft acquired an underground readership, and Wittgenstein's biographers have used it extensively. Here finally, is the text of that work itself. Hayek's account has the great merit of being close to its subject; the draft, moreover sheds light, not only on Wittgenstein but on Hayek as well. Allan Janik's elegant afterword makes these links clear. Anyone interested in Wittgenstein or, for that matter, in the thought and culture of the earlier twentieth century, will want to read Christian Erbacher's excellent edition of Hayek's draft biography. - Marjorie Perloff.

Originally published in 1960, The Constitution of Liberty delineates and defends the principles of a free society and traces the origin, rise, and decline of the rule of law. Casting a skeptical eye on the growth of the welfare state, Hayek examines the challenges to freedom posed by an ever expanding government as well as its corrosive effect on the creation, preservation, and utilization of knowledge. In distinction to those who confidently call for the state to play a greater role in society, Hayek puts forward a nuanced argument for prudence. Guided by this quality, he elegantly demonstrates that a free market system in a democratic polity—under the rule of law and with strong constitutional protections of individual rights—represents the best chance for the continuing existence of liberty. Striking a balance between skepticism and hope, Hayek’s profound insights remain strikingly vital half a century on. This definitive edition of The Constitution of Liberty will give a new generation the opportunity to learn from Hayek’s enduring wisdom.

Not available since the 1980s, this up-dated edition by the leading political philosopher, John Gray, outlines his new position on Hayek. In a substantial new chapter, Gray assesses how far the historical development of the last ten years can be deployed in a critique of Hayek's thought. His reassessment is not only a provoking study of a classical philosopher. It is also a timely contribution to the debate over the future of conservatism, as Gray argues that Hayekian liberalism - 'the most well-articulated political theory of the new right' - is flawed.

A classic work in political philosophy, intellectual history and economics, The Road to Serfdom has inspired and infuriated politicians and scholars for half a century. Originally published in 1944, it was seen as heretical for its passionate warning against the dangers of state control over the means of production. For Hayek, the collectivist idea of empowering government with increasing economic control would lead not to a utopia but to the horrors of Nazi Germany and Fascist Italy. This new edition includes a foreword by series editor and leading Hayek scholar Bruce Caldwell explaining the book's origins and publishing history and assessing common misinterpretations of Hayek's thought. Caldwell has also standardized and corrected Hayek's references and added helpful new explanatory notes. Supplemented with an appendix of related materials and forewords to earlier editions by the likes of Milton Friedman, and Hayek himself, this new edition of The Road to Serfdom will be the definitive version of Friedrich Hayek's enduring masterwork.