Cassidy, John. Hoover Digest. June 2000. Adapted from The Price Prophet. New Yorker. February 7, 2000.
Economist and Hoover honorary fellow Friedrich Hayek spent seven decades extolling the supremacy of capitalism over socialism. For most of those decades, Hayek was a voice in the wilderness. Yet as John Cassidy argues, by the end of his life Hayek was vindicated to such an extent that “it is hardly an exaggeration to refer to the twentieth century as the Hayek century.”