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Abstract Beyond doubt, liberty is one of the most important values we hold today. This article tries to show the importance of the liberty from Hayek's thoughts of economic ethic. At first, it expounds the advantage of liberty to the world's development. To certain extends, the movement of modernization is propelled with the enormous power originated from the liberty. Second, it analyzes the disasters resulted from planned economy, which verifies the value of liberty from the other side. Finally, it makes the reflections in order to help our country's construction of market economy.
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Received: 25 January 2002
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