By Friedrich Hayek
Within the final years of worldwide struggle II, Friedrich Hayek wrote the line to Serfdom. He warned the allies that coverage proposals that have been being canvassed for the post-war international ran the danger of destroying the very freedom for which they have been battling. at the foundation of 'as in battle, so in peace', economists and others have been arguing that the govt. should still plan all financial job. Such making plans, Hayek argued, will be incompatible with liberty, and have been on the very middle of the activities that had confirmed either communism and Nazism.
On its e-book in 1944, the booklet brought on a sensation. Neither its British nor its American writer may possibly stay alongside of call for, due to wartime paper rationing. Then, in 1945, Reader's Digest released the line to Serfdom because the condensed booklet in its April version. For the 1st and nonetheless the single time, the condensed publication was once put on the entrance of the journal rather than the again. Hayek stumbled on himself a star, addressing a mass marketplace.
The condensed variation was once republished for the 1st time via the IEA in 1999 and has been reissued to satisfy the ongoing call for for its enduringly appropriate and obtainable message.
Read Online or Download The Road to Serfdom: The Condensed Version As It Appeared in the April 1945 Edition of Reader's Digest PDF
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Additional resources for The Road to Serfdom: The Condensed Version As It Appeared in the April 1945 Edition of Reader's Digest
And it was socialism that had killed it. To many who have watched the transition from socialism to fascism at close quarters the connection between the two systems has become increasingly obvious, but in the democracies the majority of people still believe that socialism and freedom can be combined. They do not realize that democratic socialism, the great utopia of the last few generations, is not only unachievable, but that to strive for it produces something utterly different – the very destruction of freedom itself.
Others had already learned the lesson that in a planned society the question can no longer be on what do a majority of the people agree but what the largest single group is whose members agree sufficiently to make unified direction of all affairs possible. There are three main reasons why such a numerous group, with fairly similar views, is not likely to be formed by the best but rather by the worst elements of any society. First, the higher the education and intelligence of individuals become, the more their tastes and views are differentiated.
This formula answers practically no questions. It does not free us from the necessity of deciding in every particular instance between the merits of particular individuals or groups, and it gives no help in that decision. All it tells us in effect is to take from the rich as much as we can. When it comes to the distribution of the spoils the problem is the same as if the formula of ‘greater equality’ had never been conceived. It is often said that political freedom is meaningless without economic freedom.