[The Road to Serfdom] By Hayek, Friedrich A. Von(Author)The Road to Serfdom: Text and Documents[Paperback] on 01 Mar 2007 [Paperback]

Product Details

• Paperback
• Publisher: University of Chicago Press (March 1, 2007)
• ASIN: B001TI9FXK
• Average Customer Review: 5.0 out of 5 stars  See all reviews (5 customer reviews)
• Amazon Best Sellers Rank: #284,080 in Books (See Top 100 in Books)

More About the Author

Friedrich August 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. He taught at the University of London, the University of Chicago, and the University of Freiburg. His influence on the economic policies in capitalist countries has been profound, especially during the Reagan administration in the U.S. and the Thatcher government in the U.K.

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Most Helpful Customer Reviews

36 of 40 people found the following review helpful:

5.0 out of 5 stars So Important - Especially Today, April 15, 2009

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Glenn "Glenn" (Baltimore, MD USA) - See all my reviews

This review is from: [The Road to Serfdom] By Hayek, Friedrich A. Von(Author)The Road to Serfdom: Text and Documents[Paperback] on 01 Mar 2007 (Paperback)

This book is essential for anyone that wants to understand economics and what is happening in today's scary economic climate. Hayek does a wonderful job of illustrating what happens when governments try to control things. It's not a Republican book and it's not a Democrat book, it speaks on universal concepts that go beyond political affiliations. This edition is particularly well put together with good analysis and forwards/introductions. Highly recommended.

12 of 15 people found the following review helpful:

5.0 out of 5 stars Still Relevant Today, December 28, 2009

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D. W. MacKenzie (New London CT) - See all my reviews
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This review is from: [The Road to Serfdom] By Hayek, Friedrich A. Von(Author)The Road to Serfdom: Text and Documents[Paperback] on 01 Mar 2007 (Paperback)

This new edition of the RTS is worth buying even if you already own an earlier edition. The editor has included important material on how this book was developed and interpreted.

As for the book itself, the Road to Serfdom explains focuses on the rise of totalitarianism in twentieth century Europe. Yet it also made a more general argument concerning the incompatibility of democracy and comprehensive central planning. Hayek argues that the pursuit of socialist ideals leads to totalitarianism. While socialist 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 invites disaster.

The Road to Serfdom is a profound defense of commercial society and limited government. The RTS also is where Hayek started his 'abuse of reason' project. To fully appreciate Hayek's genius in the RTS, one should read his subsequent books in this project- The Constitution of Liberty and Law Liberty and Legislation V1-3.

The RTS has its critics, mainly on the left. Due to its insightful nature the Road to Serfdom has produced hysterical responses from the left. Leftists despise the RTS simply because it strikes at the core of both democratic-socialist or Marxist beliefs. Some serious scholars have attacked the RTS (i.e. Farrant and Levy) but their objections are misguided. The Road to Serfdom stands out as a true classic, as timeless as it is insightful. Read it completely and repeatedly.

10 of 13 people found the following review helpful:

5.0 out of 5 stars When democracy becomes dominated by a collectivist creed, democracy will inevitably destroy itself, November 9, 2009

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Michael A Neulander "Political Philosophy" (VA) - See all my reviews
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This review is from: [The Road to Serfdom] By Hayek, Friedrich A. Von(Author)The Road to Serfdom: Text and Documents[Paperback] on 01 Mar 2007 (Paperback)

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. In this book written in 1944, Hayek expertly refutes socialist schemes and shows the utter peril that socialism poses to individual freedom. We were warned in the 19th century by one of my favorite historians, Lord Acton, "that socialism is slavery". Hayek expertly points out throughout the book how democracy is no safeguard to economic freedom. He does this by pointing out the command economy structure that was instituted in Great Britain to show how individual freedom was stolen from the individual by the "economic interventionists" in the government. One of Hayek's most prescient quotes is; "When democracy becomes dominated by a collectivist creed, democracy will inevitably destroy itself." Hayek points to how most politicians feel they need to use government to plan the economy of a nation. "Planning is a synonym for socialism and a small step away from communism. He ably refutes Keynesian theory throughout the book. This is an easy to read and understand book that should be read by all who wonder what role the government should have on our economic choices.

I recommend this book to anyone who is interested in political philosophy, economic theory, and history.