Classic work in political philosophy, intellectual and cultural history, and economics. Originally published in 1944, it was seen as heretical for its passionate warning against the dangers of state control over the means of production. The author was a co-winner of the Nobel Memorial Prize in economics in 1974 and was a pioneer in monetary theory and the principal proponent of libertariansim in the twentieth century.

Introduction -- The abandoned road -- The great utopia -- Individualism and collectivism -- The "inevitability" of planning -- Planning and democracy -- Planning and the rule of law -- Economic control and totalitarianism -- Who, whom? -- Security and freedom -- Why the worst get on top -- The end of truth -- The socialist roots of Naziism -- The totalitarians in our midst -- Material conditions and ideal ends -- The prospects of international order -- Conclusion.