9-Freedom's-Prophet-WSJ-7MAY99-A-18 - Prophet Freedom's By...

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By Enwrx J. FBulNnnJn. ,. It's hard to imagine now, but at one trme even so ardent an anticommunist as Whittaker Chambers believed the West was on the losing side of history. If we didn't succumb to communism. certainly we would be consumed by a home-grown form of so cialism. The Great Depression and two world wars had left few willing to refute the idea that big government was need- ed to order human soci- etv. Friedrich A. Hayek- born 100 years ago tomor- row-was willing to question the prevailing wisdom. His seminalwork, "The Road to Serf- dom,' published in 1944, chal- lenged the economic and potitical theories of his day by asserting that central planning and individ- ual freedom could not coexist. For penning such heterodox notions as "a policy of freedom for the individ- ual is the only truly progressiVe pol- icy,' Hayek earned a prophet's re ward: Fint he was scorned, then ignored. Fortunately, Hayek lived to see his rep- utation restored, first in 19?4 when he was awarded the Nobel Memorial Prize in Eco- nomic Sciences, and later when George Bush awarded him the Presidential Medal of Freedom. And althougtr his books
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This note was uploaded on 08/22/2009 for the course ECON 3306 taught by Professor Grinols during the Spring '09 term at Baylor.

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