If you haven't heard of F.A. Hayek's the Road to Serfdom, it's time for you to hear about it. Freidrich Hayek, an economist originally from Austria, was a contemporary of the Progressive era, an opponent of FDR's policy (specifically of the economic perspective of FDR's key economic advisers, namely John Maynard Keynes), and an adamant defender of the free market. Hayek's work has been very influential over the years, especially in economics and business, but also in political philosophy and even cognitive psychology.
During the rise of socialist, fascist, and communist philosophy (all derived of the same collectivist philosophy), Hayek wrote the Road to Serfdom to bring some perspective to these popular movements. Due to its extremely complex nature and difficult language, Hayek, who was teaching at the London School of Economics at the time, had little hopes of wide readership. But the Reader's Digest picked it up in America, summarized it in a 20 page condensed version, and brought to it a huge readership. Its popularity soared, particularly among those who appreciated what we now call classical liberalism or modern conservatism/libertarianism and opposed the Progressive movement.
Due to its remarkable applicability to today's political atmosphere, it is a must read for all. Here is the Reader's Digest condensed version.
http://www.iea.org.uk/sites/default/files/publications/files/upldbook43pdf.pdf
It's a relatively easy read, and well worth an hour or two. If it resonates, the full version is a much tougher, but incredibly enlightening exposition of why economics is not an answer to economic problems, why economic planning not only doesn't work but can't work, why oppressive dictators always seem to come to power in such systems, and why socialists/progressives believe as they do (especially the so-called elites).
If you give it a read, let me know and I'd love to chat about it sometime.
Friday, April 12, 2013
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