"It's ironic that Bill Black will not tell you any of the ways Hayekians have been proven right by history. e.g. In the 1980s the UK Conservative party (driven mad by Mrs Thatcher and Hayek's Denationalization of Money book) opposed the creation of the Euro. Instead they supported the legalisation of all European currencies in all countries believing that this would lead to the Deutschmark being adopted as the international trade currency while all nations retained their own currencies. Thus avoiding all the problems the Euro has created." - Adrian