If the central contest of the twentieth century has pitted capitalism against socialism, then F. A. Hayek has been its central figure. He helped us to understand why capitalism won by a knockout. It was Hayek who elaborated the basic argument demonstrating that central planning was nothing else but an impoverishing fantasy.
Kenneth MinogueEuropeans have sometimes been beguiled by a despotism that comes concealed in the seductive form of an ideal – as it did in the cases of Hitler and Stalin. This fact may remind us that the possibility of despotism is remote neither in space nor in time.
Kenneth Minogue