The Road to Serfdom
10 hrs. 11 min.
Description
“The Road to Serfdom” (Eng. The Road to Serfdom, 1944) is a book by Nobel Prize–winning economist Friedrich von Hayek. The work has been translated into more than 20 languages and is considered one of the foundational works of classical liberalism. The book has had a significant impact on world politics and economics, serving as the ideological basis for rejecting government regulation and returning to methods of the classical competitive market in the USA under Reagan and in the UK under Thatcher.
The main idea of the book is that strengthening planned economic regulation will inevitably lead to the growth of socialist ideas—first step toward totalitarianism. Hayek believed that the rise of fascism and Nazism was not a reaction to socialist tendencies, but their inevitable development. Refusing society’s economic freedom in favor of collectivism and centralized planning, Hayek called “the road to serfdom,” which leads to the loss of not only economic but also the fundamental freedoms of a person.
The main idea of the book is that strengthening planned economic regulation will inevitably lead to the growth of socialist ideas—first step toward totalitarianism. Hayek believed that the rise of fascism and Nazism was not a reaction to socialist tendencies, but their inevitable development. Refusing society’s economic freedom in favor of collectivism and centralized planning, Hayek called “the road to serfdom,” which leads to the loss of not only economic but also the fundamental freedoms of a person.
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