Two days ago I wrote "Austrian Economics: What Business Executives Should Know." Today the Wall Street Journal's blog Real Time Economics has an article about Friedrich Hayek's The Road to Serfdom. So I guess it is an important topic. If you read the article, be sure to add Don Boudreaux's cogent response on his blog, Cafe Hayek.
On a personal note, I had dinner with Hayek many years ago. I attended a seminar on Austrian economics (thank you Institute for Humane Studies) at which Hayek was the final dinner speaker. As we were taking our places in the banquet hall, none of my fellow scholars dared to take the seat next to the Nobel laureate. I sat down, introduced myself, and had a grand chat with one of the greatest economists of the 20th century.