The Road to Serfdom

A classic work in political philosophy, intellectual and cultural history, and economics, "The Road to Serfdom" has inspired and infuriated politicians, scholars, and general readers for half a century. Originally published in England in the spring of 1944 when Eleanor Roosevelt supported the efforts of Stalin, and Albert Einstein subscribed lock, stock, and barrel to the socialist program "The Road to Serfdom" was seen as heretical for its passionate warning against the dangers of state control over the means of production. For F. A. Hayek, the collectivist idea of empowering government with increasing economic control would inevitably lead not to a utopia but to the horrors of nazi Germany and fascist Italy.

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.

"One of the most important books of our generation. . . . It restates for our time the issue between liberty and authority with the power and rigor of reasoning with which John Stuart Mill stated the issue for his own generation in his great essay "On Liberty." . . . It is an arresting call to all well-intentioned planners and socialists, to all those who are sincere democrats and liberals at heart to stop, look and listen." Henry Hazlitt, "New York Times Book Review, " September 1944

"In the negative part of Professor Hayek's thesis there is a great deal of truth. It cannot be said too often at any rate, it is not being said nearly often enough that collectivism is not inherently democratic, but, on the contrary, gives to a tyrannical minority such powers as the Spanish Inquisitors never dreamt of." George Orwell, "Collected Essays.