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In 1944, Friedrich A. Hayek wrote one of the most thought-provoking books of our time — The Road to Serfdom. Hayek warned that Great Britain and the United States were abandoning their heritage of liberty and adopting the economic principles of the Nazis, fascists, and socialists. It was not a message which the politicians, bureaucrats, and social planners of that time wanted to hear. Hayek, who would later win the Nobel Memorial Prize in Economics Science, was vilified as an old-fashioned reactionary.
No one today can seriously dispute that Hayek was right. Although Americans, for example, continue to operate under the delusion that they live in a free-enterprise nation, for the last sixty years they have traveled the same moral, philosophical, and economic mad as their enemies — the road to the welfare-state, regulated-economy way ...