ABSTRACT
The improvement in Friedrich Hayek's standing was closely linked with the revival of the fortunes of economic liberalism and its renewed ascendancy as public doctrine in both Britain and the United States. Hayek often had greater insight than his critics into the organization of modern society, even if some of his ideas are crudely expressed, or are expressed in such an extreme way that many who might otherwise have been sympathetic were led to reject them. In order to understand Hayek's work, it is therefore necessary to explore his ideological as well as his intellectual formation. In 1947 Hayek helped to found the Mont Pelerin Society, a liberal international, composed of liberal intellectuals from many disciplines dedicated to the recovery of liberal principles and the overthrow of collectivism. The chapter also presents an overview of the key concepts discussed in this book.
