"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."

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Source : "Giants Refreshed II: The Escape from Serfdom: Friedrich von Hayek and the Restoration of Liberty" in Times Literary Supplement ( p. 11), January 14, 2000.

Kenneth Minogue

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