Complex sentence: The two chief modes of failure are usually due to imperfect property rights and due to imperfect information and correspond directly to Friedrich Hayek's assertion that classical liberalism will not work without protection of the private sphere and the prevention of fraud and deception.
Split into simpler sentences: The two chief modes of failure are usually due to imperfect property rights and due to imperfect information. These correspond directly to Fredrick Hayek's assertion that classical liberalism will not work without protection of the private sphere and the prevention of fraud and deception.