Friedrich August von Hayek often referred to by his initials F. A. Hayek, was an Austrian-British economist and philosopher best known for his defense of classical liberalism. He was Visiting Professor of Economics, University of Salzburg, Austria (1969-1974) Honorary Fellow, Hoover Institution, Stanford University (1977-1992).

• Foreword. Preface. Chapters: 1. Marxism and the Problem of Socialist Economics. 2. Socialism and the Economic Principle. 3. The Calculation of Labour Value in the Socialist Society. 4. Labour Costs and the Market Price. 5. The Unitary Plan of the Socialist Economy. 6. The Problem of Distribution Under Socialism. 7. Economic Freedom and Socialism. 8. The Subjective Factors of the Socialist Economic System. 9. Socialism and Agriculture. 10. Conculsion.