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Hayek Road To Serfdom Analysis

754 Words4 Pages

One of the theorists of the classical liberalism as well as a prominent economist and sociologist of the twentieth century Friedrich August von Hayek in his book “The Road to Serfdom” defined socialism as a road to slavery. In his book which is dedicated to socialism he argues that socialism is interlinked with such elements as planned economy, collectivism and nationalization of the social life of the population which together inevitably lead to totalitarianism in the political structure of the society. This paper will argue about the failure and negative impact of the idea of socialism on the society and political system in general reviewing the book “The Road to Serfdom” by Friedrich Hayek. Friedrich Hayek is well known for his significant impact on the economy as well as political philosophy of the twentieth century. He was the leading economist of his time and was awarded with the Nobel Memorial Prize in Economic Sciences for his work in the theory of money and economic fluctuation. Though, having obtained two doctorates in political economy and law, he also was a great political …show more content…

He believed in personal liberty, constitutionally limited government and the free market of ideas and goods. In fact, with his strong liberal views Hayek was not so optimistic toward the future of liberalism on the political scene (p.12). He stated that there is little space for those who promote liberalization of the society as well as the notion of a free market. That is so because such ideas and in some point actions are usually absorbed by strong powers which show no signs of liberty at all. Rather totalitarian views and planned socialism with the ideas of overall control of a state and a society. By showing that socialism is mismatched with liberty, Hayek also stated that it is neither consistent with any of such notions as prosperity, rationality or anything else what shapes a ‘healthy’ society or a state by

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