F.A. Hayek's "The Road to Serfdom"

Hayek was concerned about the general view in Britain's academia that Fascism was a capitalist reaction against socialism. A chapter in the book is entitled, "The Socialist Roots of Nazism." The book was to be the popular edition of the second volume of a treatise entitled "The Abuse and Decline of Reason". It was written between 1940-1943. The title was inspired by the French classical liberal thinker Alexis de Tocqueville's writings on the "road to servitude". It was first published in Britain by Routledge in March 1944 and was quite popular, leading Hayek to call it "that unobtainable book," also due in part to wartime paper rationing. The book was favorably reviewed by George Orwell among others. When it was published in the United States by the University of Chicago in September of 1944, it achieved greater popularity than in Britain (though it was not better received by critics). The American magazine Reader's Digest also published an abridged version in April 1945, enabling The Road to Serfdom to reach a far wider audience than academics.

The libertarian economist Walter Block has observed critically that while the The Road to Serfdom makes a strong case against centrally-planned economies, it appears only lukewarm in its support of pure laissez-faire capitalism, with Hayek even going so far as to say that "probably nothing has done so much harm to the liberal cause as the wooden insistence of some liberals on certain rules of thumb, above all of the principle of laissez-faire capitalism". In the book, Hayek writes that the government has a role to play in the economy through the monetary system, work-hours regulation, social welfare, and institutions for the flow of proper information.

Another aspect covered is "The Rule of Law" wherein there is discussed what that is and how it would be applied by a government to foster economic growth rather than kill it.

In this chapter Hayek looks into why thoroughly incorrigible people arrive at the top.

"There are three main reasons why such a numerous and strong group with fairly homogeneous views is not likely to be formed by the best but rather by the worst elements of any society. By our standards the principles on which such a group would be selected will be almost entirely negative"

Here he goes into the "lowest common denominator" in moral standards and how these are the basis for a consensus on who gains power.

"We have seen before how the separation of economic and political aims is an essential guaranty of individual freedom..."

There is also discussion in this chapter of the principle " the end justifies the means" and how it plays a part in a socialist organization. It is described in terms of the German society even before Hitler had power. It is truly an enlightening revelation.

If you think a totalitarian government can not arrive in the USA, read this chapter to learn of the warning signs that it is already here!