Friedrich Hayek identified two different traditions within classical liberalism: the " British tradition " and the " French tradition ".

Despite this comment, Samuelson spent the last 50 years of his life obsessed with the problems of capital theory identified by Hayek and Böhm-Bawerk, and Samuelson flatly judged Hayek to have been right and his own teacher, Joseph Schumpeter, to have been wrong on the central economic question of the 20th century, the feasibility of socialist economic planning in a production goods dominated economy.

However, a group of central European economists led by Austrians Ludwig von Mises and Friedrich Hayek identified the collectivist underpinnings to the various new socialist and fascist doctrines of government power as being different brands of political totalitarianism.

F. A. Hayek wrote that Hobhouse's book would have been more accurately titled Socialism, and Hobhouse himself called his beliefs " liberal socialism ".

Milton Friedman declared himself " an enormous admirer of Hayek, but not for his economics.

Hayek himself praised the work, as did fellow Nobel Prize laureate Milton Friedman, who said that Hazlitt's description of the price system, for example, was " a true classic: timeless, correct, painlessly instructive.

However, the society has always been a focal point for an international think-tank movement ; Hayek himself used it as a forum to encourage members such as Antony Fisher to pursue the think-tank route.

Napolitano has called himself the " Ayn Rand of Fox News " and has also promoted the works of Friedrich Hayek, Milton Friedman and Ludwig von Mises on his program.

Flanagan himself has specifically denied charges that he is a Straussian, calling himself rather a Hayekian, referring to the Nobel Prize winning economist and political philosopher, Friedrich Hayek.

There was a revival of interest in classical liberalism in the 20th century led by Friedrich Hayek and Milton Friedman.

Friedrich Hayek, a well-known classical liberal, criticized this as a misconception of freedom:

Friedrich August Hayek CH (; 8 May 189923 March 1992 ), born in Austria-Hungary as Friedrich August von Hayek, was a British economist and philosopher best known for his defense of classical liberalism.

< p > The most interesting among the courageous dissenters of the 1980s were the classical liberals, disciples of F. A. Hayek, from whom they had learned about the crucial importance of economic freedom and about the often-ignored conceptual difference between liberalism and democracy .</ p >

By 1947, Hayek was an organizer of the Mont Pelerin Society, a group of classical liberals who sought to oppose what they saw as socialism in various areas.

Friedrich Hayek argues for the classical liberal view that market economies allow spontaneous order ; that is, " a more efficient allocation of societal resources than any design could achieve.

He derived the phrase spontaneous order from Gestalt psychology, and it was adopted by the classical liberal economist Frederick Hayek, although the concept can be traced back to at least Adam Smith.

While for them it was a farewell to classical liberalism, which they thought to have failed, other participants like Mises and Hayek were not convinced to condemn the old liberalism of laissez faire.

" Hayek and others believed that classical liberalism had failed because of crippling conceptual flaws and that the only way to diagnose and rectify them was to withdraw into an intensive discussion group of similarly minded intellectuals.

The first form of neoliberalism, classical neoliberalism, stems from classical liberalism and was chiefly created in inter-War Austria by economists, including Friedrich Hayek and Ludwig von Mises.

" While criticizing Hayek, Tullock still praises the classical liberal notion of economic freedom, saying, " Arguments for political freedom are strong, as are the arguments for economic freedom.

In the 1950s, Eastman joined the classical liberal Mont Pelerin Society founded by Hayek and Mises, and was a participating member of the American Committee for Cultural Freedom at the invitation of Sidney Hook.

In 1947, 39 scholars, mostly economists, with some historians and philosophers, were invited by Professor Friedrich Hayek to meet to discuss the state, and possible fate of classical liberalism and to combat the “ state ascendancy and Marxist or Keynesian planning was sweeping the globe ”.

These liberals largely consider themselves to be classical, not modern, liberals, and are heavily influenced by Friedrich Hayek and Karl Popper.

The LSE ( London School of Economics ) Hayek Society supports classical liberalism, free market economics and free trade.

The Road to Serfdom is a book written by the Austrian-born economist and philosopher Friedrich von Hayek ( 1899 – 1992 ) between 1940 – 1943, in which he " warned of the danger of tyranny that inevitably results from government control of economic decision-making through central planning ," and in which he argues that the abandonment of individualism, classical liberalism, and freedom inevitably leads to socialist or fascist oppression and tyranny and the serfdom of the individual.

The Road to Serfdom was to be the popular edition of the second volume of Hayek ’ s treatise entitled “ The Abuse and Decline of Reason ,” and the title was inspired by the writings of the 19th century French classical liberal thinker Alexis de Tocqueville on the “ road to servitude .” The book was first published in Britain by Routledge in March 1944, during World War II, and was quite popular, leading Hayek to call it “ that unobtainable book ,” also due in part to wartime paper rationing.

Many economic classical liberals, such as Hayek, have argued that market economies are creative of a spontaneous order, " a more efficient allocation of societal resources than any design could achieve.

For example, an important classical economic liberal, Friedrich Hayek, acknowledged an intellectual debt to Burke.

It was the classical liberal F. A. Hayek in “ Freedom, Reason and Tradition ” who most systematically and relentlessly pursued the nature of a libertarian / traditionalist synthesis but was loath to give it a label.

The economist Walter Block observed critically that while The Road to Serfdom is " a war cry against central planning ," it does show some reservations with a free market system and laissez-faire capitalism, with Hayek even going so far as to say that " probably nothing has done so much harm to the liberal cause as the wooden insistence of some liberals on certain rules of thumb, above all the principle of laissez-faire.

Asked about the liberal, non-democratic rule by a Chilean interviewer, Hayek is translated from German to Spanish to English as having said, " As long term institutions, I am totally against dictatorships.

Hayek, of course, had lived his early life under the mostly liberal, but mostly non-democratic, rule of the Austro-Hungarian Emperor, and Hayek had seen democracy descend into illiberal tyranny in a host of Central and Eastern European countries.

Hayek recommended liberal economic reforms similar to Chile's for the Keynesian economy in the United Kingdom to Prime Minister Margaret Thatcher.

Thatcher herself claimed philosophical inspiration from the works of Burke and Friedrich Hayek for her defence of liberal economics.

Writing in 1944, the liberal Austrian economist Friedrich Hayek said of the change in political attitudes that had occurred since the Great War: " Perhaps nothing shows this change more clearly than that, while there is no lack of sympathetic treatment of Bismarck in contemporary English literature, the name of Gladstone is rarely mentioned by the younger generation without a sneer over his Victorian morality and naive utopianism ".

Hayek did not believe that a complete lack of coercion was possible, or even desirable, for a liberal society, and he argued that a set of traditions was absolutely necessary which allowed individuals to judge whether they would or would not be coerced.

In designing a liberal system of law, Hayek believed that two things were vitally important: the protection and delineation of the personal sphere and the prevention of fraud and deception, which could be maintained only by threat of coercion from the state.

Control of information also, as Hayek notes, allows control of the actions of an individual, rendering any liberal system illiberal.

He arranged for translation and publication into a variety of central and eastern European languages of textbooks in economics and law, as well as seminal works by Ludwig von Mises, F. A. Hayek, Milton Friedman, and other thinkers in the libertarian and liberal traditions.

Economic liberalism, insofar as it is ideological, owes its creation to the " classical liberal " tradition, in the vein of Adam Smith, Friedrich A. Hayek, Milton Friedman, and Ludwig von Mises.

While the Institute does not provide instruction in philosophical conservatism, it does encourage its graduates to read classic conservative authors like Edmund Burke and " classical liberal " authors like Frederic Bastiat, as well as more modern conservative thinkers including William F. Buckley Jr., Russell Kirk, Barry Goldwater, and libertarian thinkers such as Milton Friedman and F. A. Hayek.