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Friedrich Hayek: A Biography, by Alan Ebenstein (Palgrave, 403 pp., $29.95)
One of the greatest libertarian philosophers of the 20th century, Friedrich Hayek was also its most influential scourge of collectivist economic theory. After establishing his reputation with The Road to Serfdom (1944), Hayek popularized the Austrian School of economics, put the University of Chicago at the center of American free-market thought, and founded the Mont Pelerin Society to help make the philosophic foundations of a free society a central issue in postwar Europe. Hayek argued convincingly for what seems today a commonplace: the superiority and rightness of an economic system based upon free markets rather than government manipulation in the cause of "fairness." His influence went far toward shaping the free-market renaissance that arose in the U.S. and the U.K. during the 1980s through the efforts of Ronald Reagan and Margaret Thatcher.
Influence is one of the touchstones of Ebenstein's balanced and thoughtful biography, which is less a linear unfolding of Hayek's life than a ...