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on 10 October 2012
Hayek and his ideas are still largely unknown even though they have been hugely influential in modern western economies. The average broadsheet reader could probably give a vague definition of Keynsian theory, "spend a bit more on public works when times are tough, build up a reserve when the economy is booming," but would not know where to start with Hayek. Well this is where to start. Whether you think he was right or wrong you should read it to get a broad background understanding. The only warning is that if you have a belief that he is wrong or irrelevant you might start thinking, and thinking that maybe he has the answer. But take the risk, it is an enjoyable read as well as being educational.
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