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Economics: on The Road to Serfdom, Friedrich A. Hayek - Book Report/Review Example

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Hayek and the Road to Serfdom, Book Review Hayek wrote and released this book during the course of the World War II (1944-45). He had a front row seat to the clash of the collectivist titans from the mild socialism he saw in the West to the national socialism of Germany and the communism of the Russian state…
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Economics: Book report/Review on The Road to Serfdom, Friedrich A. Hayek
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Economics: on The Road to Serfdom, Friedrich A. Hayek

His primary thesis is that the power of the state will lead to slavery, misery and poverty. Along with his colleague in the Austrian School of Economics, Ludwig von Mises, he delivered a powerful indictment of the state in two respects: its inability to rationally behave economically and ultimately the brutal manner in which the state will ultimately treats its citizens once it has the power to tax, regulate and redistribute. By robbing the individual citizens of property rights and collectivizing either through outright nationalization or through the more fascistic means of taxation and regulation, all citizens are reduced to slavery and serfdom. Hayek says: “The increasing veneration for the state, the admiration of power, and of bigness for bigness' sake, the enthusiasm for "organization" of everything (we now call it "planning") and that "inability to leave anything to the simple power of organic growth"...are all scarcely less marked in England now than they were in Germany.”(Hayek, 200) It is interesting to note that outside of Germany and the USSR during the course of WWII, the United Kingdom was considered the most repressive society in the Western world. ... Read More
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