The United States stands at this time at the pinnacle of world power. It is a solemn moment for the American Democracy. For with primacy in power is also joined an awe inspiring accountability to the future. If you look around you, you must feel not only the sense of duty done but also you must feel anxiety lest you fall below the level of achievement. Opportunity is here now, clear and shining for both our countries. To reject it or ignore it or fritter it away will bring upon us all the long reproaches of the after-time. It is necessary that constancy of mind, persistency of purpose, and the grand simplicity of decision shall guide and rule the conduct of the English-speaking peoples in peace as they did in war. We must, and I believe we shall, prove ourselves equal to this severe requirement. – Winston Churchill, March 5, 1946

This is from Churchill’s famous “Sinews of Peace” speech, also known as the “Iron Curtain” speech. Click here to listen to his full remarks. (Churchill begins speaking at 08:26.)

For our 300th posting, we present an abbreviated version of Friedrich A. Hayek’s The Road to Serfdom (originally posted in Look Magazine, 1945).

The Road to Serfdom is not yet in the public domain.  (It is available at your local bookstore, of course.)  However, The institute of Economic Affairs does offer a condensed version, along with the essay, The Intellectuals and Socialism, and commentary here.