Hayek's work makes a passionate and reasonable case concerning the consequences of planned economies. Drawing on his extensive personal and academic knowledge of affairs in Germany leading up to WWII, he proves beyond a reasonable doubt that National Socialism is first and foremost a form of Socialism. He goes on to show, that despite the good intentions of many on the Left, the consequences of such planning can lead only to totalitarianism. But while staunchly defending the 'old liberals' of the nineteenth century--those who adhere to participatory democracy and market economics--he proposes very little in regards to mitigating the very real risks inherent in capitalism, such as poverty, dehumanization, and the variability of markets. For what Hayek does say, though, it is well worth the read by those of any political or economic stripe.