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The Road to Serfdom Fiftieth Anniversary Edition (Paperback)
by F. A. Hayek, Milton Friedman
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Politics, Non-fiction |
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Essential reading for all students of economics and political science. |
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Author: F. A. Hayek, Milton Friedman
Publisher: University Of Chicago Press
Pub. in: October, 1994
ISBN: 0226320618
Pages: 320
Measurements: 8 x 5.3 x 0.6 inches
Origin of product: USA
Order code: BA00437
Other information: 50th Annvr edition
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- MSL Picks -
The Road to Serfdom is Hayek's classic exposition of the superiority of individual liberty over central planning. As he does in other writings, Hayek advocates free enterprise, competition, private property, and limited government.
This book has been in print for about half a century, and yet its lessons and warnings are as relevant now as they were when first published.
In this famous book, Hayek breaks down the different ways in which state planning, as opposed to individual or more localized control, nearly always means the loss of liberty. Ultimately, in an economic system planned from the top down, should the system seek to continue, it will require dreadful, totalitarian measures. One of the saddest facts of these systems though is that in order to be put into place, they require many once-free people to willingly give up their freedoms: "the totalitarians in our midst" Hayek labels them. One passage along this line that holds just as true today as when Hayek wrote it:
"And, undoubtedly, not merely the ideas which in Germany and elsewhere prepared totalitarianism but also many of the principles of totalitarianism itself are what exercises an increasing fascination in many other countries. Although few people, if anybody, in England would probably be ready to swallow totalitarianism whole, there are few single features which have not yet been advised by somebody or other. Indeed, there is scarcely a leaf out of Hitler's book which somebody or other in England or America has not recommended us to take and use for our own purposes. This applies particularly to many people who are undoubtedly Hitler's mortal enemies because of one special feature in his system. We should never forget the anti-Semitism of Hitler has driven from his country, or turned into his enemies, many people who in every respect are confirmed totalitarians of the German type."
For anyone who has wondered recently why Pat Buchanan can often be seen receiving large applause at rallies with ultra-Leftist labor union leaders, or how other fringe Right groups often march these days against international free trade along side of socialist/environmentalist groups, F.A. Hayek explained it perfectly nearly 60 years ago. Whether seeking to force a large group of people to pay excessive amounts for goods and services, through trade protectionism supposedly planned to "protect" the jobs of a much smaller group, or through more directly stated taxation and redistribution of wealth programs, these groups are both taking a page from the Russian and German totalitarians of the 20th Century. Often "mortal enemies" of each other, they have found common cause at the modern-day economic forums, and should a free American people ultimately hand them control, as the Germans gave to these groups' National Socialist forebears, then similar results would ultimately not be far behind. (And if you think there weren't numerous leftists in strong roles in Hitler's National Socialist party, you need to read this book that much more.)
The Road to Serfdom lays out just what the title implies. F. A. Hayek was a brilliant thinker who was sadly dismissed by many of his day. Hopefully, more leaders of our era will read this book and realize that economic planning, be it through protective tariffs or progressive tax rates, while such an easy sell and so tempting at times, lead only to a loss of freedoms for everyone (as economic freedom is at the base of all the others), including the people they are supposedly intended to help.
Unfortunately Hayek's writing in parts of this book is rather stodgy and it is most surprising (though gratifying) that the book achieved such a high and continuing level of readership. For best results it should be read in tandem with Popper's The Open Society and its Enemies. This is easier to read and it has a very similar message with greater depth in some areas such as the philosophical roots of totalitarian thinking, the statement of critical rationalism and the correction of the muddle which Plato created by the false dichotomy of individualism and altruism
Target readers:
General readers
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F. A. Hayek (1899-1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and the principal proponent of libertarianism in the twentieth century.
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From the Publisher:
A classic work in political philosophy, intellectual and cultural history, and economics, The Road to Serfdom has inspired and infuriated politicians, scholars, and general readers for half a century. Originally published in England in the spring of 1944 - when Eleanor Roosevelt supported the efforts of Stalin, and Albert Einstein subscribed lock, stock, and barrel to the socialist program - The Road to Serfdom was seen as heretical for its passionate warning against the dangers of state control over the means of production. For F. A. Hayek, the collectivist idea of empowering government with increasing economic control would inevitably lead not to a utopia but to the horrors of nazi Germany and fascist Italy.
First published by the University of Chicago Press on September 18, 1944, The Road to Serfdom garnered immediate attention from the public, politicians, and scholars alike. The first printing of 2,000 copies was exhausted instantly, and within six months more than 30,000 were sold. In April of 1945, Reader's Digest published a condensed version of the book, and soon thereafter the Book-of-the-Month Club distributed this condensation to more than 600,000 readers. A perennial best-seller, the book has sold over a quarter of a million copies in the United States, not including the British edition or the nearly twenty translations into such languages as German, French, Dutch, Swedish, and Japanese, and not to mention the many underground editions produced in Eastern Europe before the fall of the iron curtain.
After thirty-two printings in the United States, The Road to Serfdom has established itself alongside the works of Alexis de Tocqueville, John Stuart Mill, and George Orwell for its timeless meditation on the relation between individual liberty and government authority. This fiftieth anniversary edition, with a new introduction by Milton Friedman, commemorates the enduring influence of The Road to Serfdom on the ever-changing political and social climates of the twentieth century, from the rise of socialism after World War II to the Reagan and Thatcher "revolutions" in the 1980s and the transitions in Eastern Europe from communism to capitalism in the 1990s.
F. A. Hayek (1899-1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and the principal proponent of libertarianism in the twentieth century.
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Henry Hazlitt (New York Times Book Review, September 1944) (MSL quote), USA
<2007-01-09 00:00>
One of the most important books of our generation… It restates for our time the issue between liberty and authority with the power and rigor of reasoning with which John Stuart Mill stated the issue for his own generation in his great essay On Liberty… It is an arresting call to all well-intentioned planners and socialists, to all those who are sincere democrats and liberals at heart to stop, look and listen. |
George Orwell (Collected Essays) (MSL quote), USA
<2007-01-09 00:00>
In the negative part of Professor Hayek's thesis there is a great deal of truth. It cannot be said too often - at any rate, it is not being said nearly often enough - that collectivism is not inherently democratic, but, on the contrary, gives to a tyrannical minority such powers as the Spanish Inquisitors never dreamt of. |
David Swan (MSL quote), USA
<2007-01-09 00:00>
The Road to Serfdom is required reading among conservatives and F. A. Hayek's words can still be heard echoing throughout right wing think tanks. The problem is that an amazing linguistic bait and switch has occurred. Mr. Hayek's main argument is against socialism which he blames for Nazi Germany and Fascist Italy but what the author freely admits in his 1976 preface is that the definition of socialism has changed. When the book was written in the 1940's, Hayek was arguing against complete state ownership of business which he saw as the first step towards fascism. Today, however, socialism has become attached to the redistribution of wealth which is not the dictionary definition. The original ideas of socialism are dead so why is Hayek still so intently read? The fact is that some conservatives are trying to take Hayek's ideas to their extreme limit.
Fredrick A. Hayek was vigorously opposed to collectivism and central planning. His assertion was that distributed planning is superior because decision makers are closer to the problem. The bigger issues are that central planning ruins Democracy by placing authority in the hands of unelected experts and enslaves citizens by creating institutions they may disapprove of. It's interesting to note that unelected experts make decisions all the time. The Judicial branch and the presidents' entire cabinet are unelected. If Hayek wanted to avoid the delegation of authority to unelected officials there would have to be a complete restructuring of the U.S. government. Also, Hayek's problem with central planning projects meeting universal or even majority approval seems unrealistic. Using Hayek's thinking Evolution would still be a restricted subject in the classrooms.
Hayek was not specifying socialism per se as the cause of restrictions on freedom. His fight was against the broader problem of the concentration of power. It just happened that in the mid 1940's socialism WAS the greatest threat to the distribution of power. Mr. Hayek uses a quote by Hilaire Belloc that says, "The control of the production of wealth is the control of human life itself". Hayek mentions his lack of concern over the 50 to 1 disparity in wealth between the wealthiest and poorest Americans but how would he feel about the current 400 times or more disparity? The concentration of wealth IS the concentration of power and as such is as much a threat to freedom and democracy as socialism ever was.
No doubt, F. A. Hayek was a pragmatist. Even while arguing against the socialist aim of bringing business and job placement fully under the control of the state, Hayek still had the foresight to warn against `excessive privatization'. Again, I have to wonder how Mr. Hayek would feel about privatization of Social Security, Education and even in some cases the military.
Mr. Hayek listed some telltale signs of growing totalitarianism that seem eerily recognizable in the U.S. today including groupthink, suppression of information, the politicalization of science and a high state of nationalism. It's poor form to try and speak for the deceased so I wouldn't speculate on Hayek's opinion of the current Conservative movement but their far right members are certainly extending Hayek's ideas far beyond anything he expressed in The Road to Serfdom. Despite his strong beliefs Hayek was still pragmatic enough to recognize moderation and a country run by lobbyists sitting on a mountain of cash doesn't seem like the free and democratic ideal that F. A. Hayek was envisioning. |
D. Mackenzie (MSL quote), USA
<2007-01-09 00:00>
The Road to Serfdom explains the rise of totalitarianism in early twentieth century Europe (like Nazism). Yet it also made a more general argument concerning the limits of democracy and human reason. In particular, Hayek argues that the pursuit of socialist ideals leads to totalitarianism. While these ideals seem noble to many, those who persist in realizing these ideals will find it necessary to adopt coercive methods that are incompatible with freedom. Thus socialists must choose between their egalitarian goals and the preservation of individual liberty.
Hayek describes how Europeans came to expect progress, and became impatient for faster progress. The liberal reforms of the 19th century delivered unprecedented economic progress. Much of this was directly due to scientific discovery. The role of free competition in promoting scientific discovery was less obvious. Europeans increasingly came to believe that scientific planning of society itself could accelerate greater progress.
Europeans also changed how they thought about equality and freedom. Insistence upon freedom from want displaced the yearning for freedom from coercion. Democracy came to be seen as a means of realizing an increasing number of social goals, rather than as a means of preserving freedom. To Hayek, these were dangerous errors. Democracy could only work effectively in areas where agreement upon ultimate ends could be attained with little difficulty. A democratic government could enforce general rules of conduct that applied to all equally (i.e. free speech and free association). Democracy can never produce agreement over policies that affect specific economic results. One always gains at the expense of others in such matters. Such Economic planning places impossible demands upon democracy. This is because pursuit of specific ends requires timely and decisive action. Democracies move too slowly to attain specific ends, so arbitrary powers of government will grow. A planned economy will ultimately require acceptance of dictatorship. This is a dire consequence, as it is the worst sort of tyrants who are most adept at wielding dictatorial powers.
Some might say that these arguments are unduly pessimistic. Hayek points to the examples of Hitler and Stalin to support his case. Of course, these are worst case scenarios. Have not England, Sweden, and the US adopted large welfare-regulatory states without such tyranny? This is a fair point, yet we should remember two things. First, Hayek claimed that centralized control of the economy would destroy freedom ultimately, but gradually. Second, Western nations have not yet gone as far in planning their economies as did Russia and Germany in the 1930's. The fact that we have yet realized the horrible results of Stalinism implies neither that were are safe from despotism in the future, nor that our present situation is entirely satisfactory. One can easily argue that we have already started on the wrong path. For instance, Hayek's chapter on “The End of Truth” applies to modern political correctness.
Hayek wrote this book not only to warn people about the limits of democracy and the incompatibility of planning and freedom. This was the start of his project concerning the abuse of reason. His warning is also about the tendency to overestimate the abilities of even the best and brightest individuals. Not even the best and brightest can comprehend modern societies. Socialists who favor comprehensive planning, and even modern liberals and conservatives who want to plan part of society, proceed on a false assumption concerning human reason. Ultimately, Hayek makes a strong case for limited constitutional government. To expect more of democracy than what Madison and Jefferson intended is to risk disaster.
The Road to Serfdom is a profound defense of individual liberty. This book has its critics, mainly on the left. Yet this is due to its insightful nature. The Road to Serfdom has produced hysterical responses from the left simply because it strikes at the core of both democratic-socialist and Marxist beliefs. The Road to Serfdom stands out as a true classic, as timeless as it is insightful. |
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