The Road to Serfdom

Tuesday, November 17, AD 2009

I do not endorse some of the overheated added commentary, but I believe Friedrich von Hayek’s warnings of the long terms dangers of a planned economy are just as prescient today as when the book The Road to Serfdom was published in 1944.  It is a short book and well worth the time it takes to read it. Some memorable quotes of von Hayek:

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5 Responses to The Road to Serfdom

  • Hilaire Belloc in THE SERVILE STATE anticipated Hayek by several decades.

  • Interesting that GM’s several billion loss this quarter indicates that it is on the road to recovery. It will be able to repay part of the government loans from government money.
    Creative Accounting it is called.

  • Or you could call it a lie. Maybe theft. Perhaps B.S.

    I wonder if I can convince my mortgage company to confiscate money from other debtors and give me a non-recallable, non-recourse loan so I can use that to pay my mortgage. My balance sheet would look great and then they can make brochures with my face on them showing a success story for financial prudence. How do I sell this? . . .

  • Do we need government? Of course, we have disorderd appetites and we must use force to restrain some of them. Murder, rape, kidnapping, plunder by another government, etc. However, we need to limit the scope of that government becuase it will be run by the same people it seeks to govern: sinners. The temptation to power is too great for any man so the power must be tempered and temporary.

    Economic rights, such as private property and a stable reserve currency that is pegged to a commodity to keep its inflation in check are very important. Hayek was right about all that and he also knew that if wealth is controlled by the collective then the individual is a slave and a slave that will not be free to excercise the worship of religion. Not good, unless you like that sort of thing.

    You know that old chestnut: Freedom is Slavery. It is a brave new world. We used to be apes and now we can be gods.

  • Gabriel,

    I’m going to buy that book by Hilaire. I’m a big fan of Von Hayek and if Belloc is anything close to it, I’d like it to be Catholic.