Recently rereading Hayek's "The Road to Serfdom," I couldn't help but think of how, after Gaddafi fell, the international community tracked down his family's wealth amounting to hundreds of billions of dollars. That's equivalent to several years of GDP for a medium-sized country, or decades of oil revenue for an African oil-producing nation. What's even more intriguing is how these assets were acquired: nominally nationalized, but effectively privatized by the family. Any profitable business that caught their eye would be forcibly taken over under the guise of public interest, only to end up in the pockets of a select few. Hayek's predictions have almost all come true. Many people's impressions...