Hayek for the 21ST Century
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THE MISES INSTITUTE is a nonprofit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.
Nonpolitical, nonpartisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.
The Mises Institute is funded entirely by voluntary contributions from individuals, businesses, and foundations. We do not accept any government money.
For more information, visit mises.org, email us at contact@mises.org, or call 1.800.OF.MISES.
Special thanks is extended to the Estate of F. A. Hayek for permission to reproduce “Why the Worst Get on Top” and “The Meaning of Competition.” Thanks is also given to Dr. Bruce Caldwell, the executor of the F. A. Hayek estate, for his assistance.
In addition, thanks is also extended to the American Economic Review, the University of Chicago Press, The University of Chicago Law Review, Southern Economic Journal, the Nobel Foundation, and the Institute for Economic Affairs for permission to reproduce the essays included in this volume.
Published 2025 by the Mises Institute
Mises Institute
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Auburn, AL 36832
ISBN: 978-1-61016-790-1
