克的學生：他公開說自己一度曾是溫和的社會主義者，主張對窮人，公平和平等的關注將會幫助政府確定政策。
NARRATOR： Much of Vienna's intellectual life took place outside the university； in the coffeehouses across the Ringstrasse。 There were informal seminars for those who loved discussion and argument。 Hayek joined the circle of a passionate libertarian called Ludwig von Mises。 Von Mises believed markets； like people； needed to be free from government meddling。
旁白：維也納的學術活動多數是在大學以外的Ringstrasse對面的咖啡館進行的。熱愛討論和爭論的人舉辦一些非正式的討論會。哈耶克加入到一位充滿熱情的自由主義者的圈子當中，這個自由主義者就是Ludwig von Mises。Von Mises 認為市場就像人一樣需要擺脫政府的干預。
ALBERT ZLABINGER： Ludwig von Mises was the preeminent economist of the Austrian school。 The distinguishing hallmark of the Austrian school of economic thought is that markets work and governments don't。
ALBERT ZLABINGER：Ludwig von Mises是奧地利學派一位傑出的經濟學家。奧地利學派經濟思想的顯著特點就是他們認為市場起作用而政府不起作用。
NARRATOR： Von Mises predicted that the new Soviet socialist economy would never work； precisely because the government controlled wages and prices。
旁白：Von Mises預言正是由於政府控制工資和價格，所以新的蘇聯的社會主義經濟永遠不會成功。
DANIEL YERGIN： What von Mises said is that the great flaw of socialism is that it doesn't have a functioning price system to send all the signals to consumers and producers as to what something is worth； that these prices are at the very heart of what makes a functioning economy work。
丹尼爾。尤金：Von Mises 所說的是指社會主義的一大缺點是它沒有一個有效的價格體系來向消費者和生產者傳遞所有表示什麼東西值多少錢的訊號；而這些價格則恰恰是使經濟有效執行的核心。
You can think of them as traffic signals。 And if you don't have them； what you get is a system that doesn't work； or you get chaos。
你可以把它們看作交通訊號。如果沒有它們，那麼你得到的是一個無效的或者混亂的體系。
ALBERT ZLABINGER： Von Mises argued that free markets do it best …… why fool with anything else？
ALBERT ZLABINGER：Von Mises爭論說自由市場最