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Hoover Senior Fellow John Taylor recounts the founding of the Mont Pelerin Society in a village in Switzerland in 1947. The idea was the brainchild of economist Friedrich Hayek, best known for his 1944 book, The Road to Serfdom. Hayek convened a small group of economists and other thinkers to discuss ways to defend free market capitalism at a time when the appeal of socialist planning was ascendant. Among the participants were economists Ludwig von Mises and Milton Friedman and political philosopher Karl Popper.
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