Product Description

An unimpeachable 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 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 lead not to a utopia but to the horrors of Nazi Germany and Fascist Italy. First published by the University of Chicago Press on September 18, 1944, "The Road to Serfdom" garnered immediate, widespread attention. The first printing of 2,000 copies was exhausted instantly, and within six months more than 30,000 books were sold. In April 1945, "Reader's Digest" published a condensed version of the book, and soon thereafter the Book-of-the-Month Club distributed this edition to more than 600,000 readers. A perennial best seller, the book has sold 400,000 copies in the United States alone and has been translated into more than twenty languages, along the way becoming one of the most important and influential books of the century.

Product Details

• Amazon Sales Rank: #276767 in Books
• Published on: 2008-03-07
• Original language: English
• Number of items: 1
• Binding: Paperback
• 304 pages

Customer Reviews

"All that is gold does not glitter"
This definitive edition has been edited and provided with a Foreword and Introduction by Bruce Caldwell who retained the prefaces and forewords of earlier editions. The text has been enhanced by explanatory notes and new appendices that are listed at the end of this review.

Even after six decades, The Road To Serfdom remains essential for understanding economics, politics and history. Hayek's main point, that whatever the problem, human nature demands that government provide the solution and that this is the road to hell, remains more valid than ever. He demonstrated the similarities between Soviet communism and fascism in Germany and Italy.

The consensus in post-war Europe was for the welfare state which seemed humane and sensible for a long time. Now it is clear that this has led to declining birth-rates amongst native Europeans, mass immigration from North Africa and the Middle East, and a tendency to exchange their ancient cultural values for multiculturalism and moral relativism which is just another form of nihilism as the French philosopher Chantal Delsol observes.

In this timeless classic, Hayek examines issues like planning and power, the fallacy of the utopian idea, state planning versus the rule of law, economic control, totalitarianism, security and economic freedom. He brilliantly explains how we are faced with two irreconcilable forms of social organization. Choice and risk either reside with the individual or s/he is relieved of both. Societies that opt for security instead of economic freedom will in the long run have neither.

Complete economic security is inseparable from restrictions on liberty - it becomes the security of the barracks. When the striving for security becomes stronger than the love of freedom, a society gets into deep, deep trouble. The way to prosperity for all is to remove the obstacles of bureaucracy in order to release the creative energy of individuals.

The government's job is not to plan for progress but to create the conditions favorable to progress. This has been proved by the impressive economic expansion under Reagan and Thatcher and by the amazing growth of the Asian Tiger economies, and most recently India since it started implementing sensible economic policies. Everywhere entrepreneurial energy is unshackled, massive improvements follow.

Nowhere is this more obvious than in the contrast between phenomenal growth in formerly communist countries like Estonia or Poland or even the economic health of the UK as measured against the stagnant economies of Germany and France during the first years of the millennium. Old Europe would have benefited by a Thatcher and the French would have welcomed Polish plumbers instead of being resentful.

Hayek warns against utopian yearnings that are exploited by politicians, the stealthy way in which welfarism diminishes individual freedom, the totalitarian impulse and different types of propaganda. As pointed out by Chantal Delsol in Icarus Fallen, lack of personal responsibility leads to perpetual adolescence where citizens conflate desires with rights. Defining this process as the "sacralization" of rights, she shows that freedoms are then transformed into entitlements.

What a pity people don't learn; what a blessing we have in The Road to Serfdom as a reminder and a warning. The new Appendix of Related Documents include: Nazi-Socialism (1933), Reader's Report by Frank Knight (1943), Reader's Report by Jacob Marschak (1943), Foreword to the 1944 American Edition by John Chamberlain, Letter from John Scoon to C. Hartley Grattan (1945) and Introduction to the 1994 Edition by Milton Friedman. The book concludes with an index.

Societies that choose security over economic freedom will have neither
This definitive edition has been edited and provided with a Foreword and Introduction by Bruce Caldwell who retained the prefaces and forewords of earlier editions. The text has been enhanced by explanatory notes and new appendices that are listed at the end of this review.

Even after six decades, The Road To Serfdom remains essential for understanding economics, politics and history. Hayek's main point, that whatever the problem, human nature demands that government provide the solution and that this is the road to hell, remains more valid than ever. He demonstrated the similarities between Soviet communism and fascism in Germany and Italy.

The consensus in post-war Europe was for the welfare state which seemed humane and sensible for a long time. Now it is clear that this has led to declining birth-rates amongst native Europeans, mass immigration from North Africa and the Middle East, and a tendency to exchange their ancient cultural values for multiculturalism and moral relativism which is just another form of nihilism as the French philosopher Chantal Delsol observes.

In this timeless classic, Hayek examines issues like planning and power, the fallacy of the utopian idea, state planning versus the rule of law, economic control, totalitarianism, security and economic freedom. He brilliantly explains how we are faced with two irreconcilable forms of social organization. Choice and risk either reside with the individual or s/he is relieved of both. Societies that opt for security instead of economic freedom will in the long run have neither.

Complete economic security is inseparable from restrictions on liberty - it becomes the security of the barracks. When the striving for security becomes stronger than the love of freedom, a society gets into deep trouble. The way to prosperity for all is to remove the obstacles of bureaucracy in order to release the creative energy of individuals.

The government's job is not to plan for progress but to create the conditions favorable to it. This has been proved by the impressive economic expansion under Reagan and Thatcher and by the amazing growth of the Asian Tiger economies, and most recently India since it started implementing sensible economic policies. Everywhere entrepreneurial energy is unshackled, massive improvements follow.

Nowhere is this more obvious than in the contrast between phenomenal growth in formerly communist countries like Estonia or Poland or even the economic health of the UK as measured against the stagnant economies of Germany and France during the first years of the millennium. Old Europe would have benefited by a Thatcher and the French would have welcomed Polish plumbers instead of being resentful.

Hayek warns against utopian yearnings that are exploited by politicians, the stealthy way in which welfarism diminishes individual freedom, the totalitarian impulse and different types of propaganda. As pointed out by Chantal Delsol in Icarus Fallen, lack of personal responsibility leads to perpetual adolescence where citizens conflate desires with rights. Defining this process as the "sacralization" of rights, she shows that freedoms are then transformed into entitlements.

What a pity people don't learn; what a blessing we have in The Road to Serfdom as a reminder and a warning. The new Appendix of Related Documents include: Nazi-Socialism (1933), Reader's Report by Frank Knight (1943), Reader's Report by Jacob Marschak (1943), Foreword to the 1944 American Edition by John Chamberlain, Letter from John Scoon to C. Hartley Grattan (1945) and Introduction to the 1994 Edition by Milton Friedman. The book concludes with an index.