In 1944, F.A. Hayek’s best-selling book, The Road to Serfdom, warned the West that the "free" nations would lose their freedom as government expanded. He was right.

Original Article: "They Didn’t Listen: The Reality of Hayek’s Bestseller"

F.A. Hayek is one of the most influential figures in the field of social science. His works ranged from philosophy to economics to jurisprudence to psychology. He won the Nobel Prize in economics in 1974 and was probably the last major Austrian economist from Austria. He was not only important in Austrian economics but also in mainstream economics. One of his most popular works was the book The Road to Serfdom. Even though it was written in 1944, it is still read by many and was a bestseller in 2010 on Amazon.
With this book, Hayek brought the noise into the academia of social science and especially economics. During the Second World War, many scholars made excuses for the compulsory wartime economic system. Due to the Great Depression in the early 1930s, many had already lost their faith

Karl Marx may have been a philosopher or just someone with an opinion. He was not, however, an economist.

Original Article: "Karl Marx Was Not an Economist"
This Audio Mises Wire is generously sponsored by Christopher Condon.

Despite the massive intellectual feat that Marx’s Capital represents, the Marxian contribution to economics can be readily summarized as virtually zero. Professional economics as it exists today reflects no indication that Karl Marx ever existed.
—Thomas Sowell
If socialists understood economics they wouldn’t be socialists.
—F.A. Hayek
Karl Marx is a very popular name in social sciences. As a scholar of the nineteenth century, he is still a part of political discussions today. He was born in Germany and later shifted to London where he lived with his family in exile. Marx was a sociologist and philosopher, but some also see him as an economist. This article is a rebuttal to such thoughts.
Economics simply deals with the problem of the allocation of resources. As resources are scarce, they

In 1991, India’s political leaders moved away from socialism, embracing markets and improving the economy. But Indian elites continue to push socialism to the detriment of the people.

Original Article: "Capitalism Has Improved Life in India, but the Spirit of Collectivism Still Dominates"
This Audio Mises Wire is generously sponsored by Christopher Condon.

India is currently the seventh-largest country in the world with the largest youth population. There are many elements that make this country unique, the foremost being diversity—diversity of culture, race, ethnicity, and linguistics. India faced an era of colonialism under the British, who would take raw material from India at cheaper rates and import the finished products.