A Rare Recording of FA Hayek on Socialism

The following two audio clips are from Friedrich August von Hayek (May 8, 1899 - March 23, 1992), who was an Austrian-British economist and political philosopher. Hayek shared the 1974 Nobel Memorial Prize in Economic Sciences with Gunnar Myrdal for work on money and economic fluctuations, and how prices communicate information. His seminal work, "The Road to Serfdom," has been republished many times over the eight decades since its original publication.