Friedrich Hayek is rightly considered to be one of the intellectual forefathers of classical liberalism and his famed work, 'The Road to Serfdom', is thought of by many to be the ideology's clearest codification.
However, with the book's 80th anniversary looming, we thought it would be a good idea to revisit this seminal work and ask the question, was Hayek right?
On the panel was:
Dr James Forder (Chair) - IEA Academic and Research Director
Dr Kristian Niemietz - IEA Head of Political Economy
Professor Mark Pennington - Professor of Political Economy and Public Policy at King's College London
Sherelle Jacobs - Daily Telegraph columnist