In the first video of this collection, Friedrich A. Hayek describes his early childhood in Vienna. He comments on pivotal events in his life as well as the social, political, and cultural context in which his views developed. He explains the circumstances that led him to socialism and the inherent problems he identified in that system. He also examines the basic principles of societies and the individuals who make them so elaborate and unpredictable. Finally, he describes the characteristics of a truly liberal society and its goal of expanding progress and freedom.