Capitalism and the Historians, edited by F. A. Hayek
The publication ten years ago of F. A. Hayek’s The Road to Serfdom was a major event in the intellectual history of the United States. As an able and scholarly polemic against socialism, it marked the beginning of that slow reorientation of sentiment—both in academic circles and among the general public—toward a more positive evaluation of the capitalist system which has marked the past decade. Professor Hayek’s present volume can scarcely hope to have the same effect; it is a slighter effort, and the intellectual atmosphere it will encounter is far more sympathetic to its central thesis than was the case with a book appearing at the height of the wartime alliance with the Soviet Union and challenging the most cherished tenets of the preceding era of New Deal and Popular Front.
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