Customer Reviews

The Fortunes of Liberalism: Essays on Austrian Economics and the Ideal of Freedom (Collected Works of F. A. Hayek)

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Relatively few people should find The Fortunes of Liberalism interesting. It is a book on the history of particular ideas- the development of the Austrian/Classical Liberal worldview, mostly since the late nineteenth century. While few people are interested in this subject, those who are should find this book fascinating. Hayek was not only a witness to this history; he was a major figure in its development.

More people should be interested in this book because the rejection of Classical Liberalism ended in disaster. Why? Liberal free trade produced unprecedented progress up to 1914. The Great War resulted from imperialistic tendencies that predate liberalism. Yet most Europeans and Americans rejected the source of progress.

Peter Klein deserves credit for editing this book. It delves into an important topic. Unfortunately, too few people appreciate the history of ideas, and fewer still appreciate these ideas in particular.