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First edition, first impression, from the library of the Italian free-market political philosopher Bruno Leoni, with his ownership signature on the title page and his penciled lines and occasional exclamation marks in the margins. Leoni (1913-1967) was a student of Austrian economics, and in his writings, especially his 1961 magnum opus Freedom and the Law, applied the principles specifically to legislation. Hayek is referenced numerous times in Leoni's work, and in turn Hayek cited Leoni as a major figure in his philosophical movement. Leoni was later president of the free-market organization the Mont Pelerin Society, which Hayek co-founded. Hayek delivered a memorial lecture for Leoni, praising him as "a scholar and international figure, the man who gained devotion and respect wherever he went, and of whom I am proud to speak as much in the name of our common friends all over the world as in my own name" (Hayek, p. 21). The Road to Serfdom, Hayek's classic polemic against centralization and collectivism, is among the most influential and popular expositions of classical liberalism and libertarianism, and "far and away the most eloquent and straightforward statement of his political and economic outlook that Hayek ever achieved" (ODNB). Though in the short term the book failed to halt the rapid extension of government power into economic life, over the next few decades the book inspired countless proponents of economic liberty, became a foundation of the revival of liberal economics, and was adopted as a guiding text in the Thatcher and Reagan projects. READ MORE Octavo. Original black cloth, spine lettered in gilt. Housed in custom black quarter morocco box. Light rubbing and bumping at extremities, contents lightly toned as usual. A very good copy. Cody & Ostrem B-6. Friedrich Hayek, "Bruno Leoni the Scholar," in Il Politico, vol. 33, no. 1, 1968.

"The Road to Serfdom," written by Friedrich Hayek in 1944, is a seminal text that critiques centralized economic planning and collectivism. Hayek argues that state control over the economy inevitably leads to a loss of personal freedoms and the rise of authoritarianism. He emphasizes the importance of free markets and individual liberty as essential defenses against the encroachment of totalitarian rule. The book remains a powerful discourse on the relationship between economic systems and political freedom, warning of the dangers of surrendering too much power to the state.