From the $700 billion bailout of the banking industry to president Barack Obama's $787 billion stimulus package to the highly controversial passage of federal health-care reform, conservatives and concerned citizens alike have grown increasingly fearful of big government. Enter economist and political theorist F.A. Hayek. This book is a statement on the ideals of freedom and liberty, ideals that he believes have guided -- and must continue to guide -- the growth of Western civilization. Here Hayek defends the principles of a free society, casting a skeptical eye on the growth of the welfare state and examining 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 opposition to those who call for the state to play a greater role in society, Hayek puts forward an argument for prudence. Guided by this quality, he 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.
