This is the second part of my discussion on F.A. Hayek’s The Road to Serfdom. As you can read in my first article in this series, F.A. Hayek: The Road to Serfdom, this book has had a profound impact on my life and beliefs. I hope that you all enjoy this series.
Who was F.A. Hayek?
Before I get into discussing The Road to Serfdom
Hayek was born in 1899 and began writing The Road to Serfdom in 1940, a year after the start of World War II. By 1940, Hayek was a British subject and was living in Great Britain. After World War II, Hayek moved to the United States and was a professor at the University of Chicago. Topping off Hayek's brilliant career, in 1974 he won the Nobel Prize in Economics.
Background on The Road to Serfdom
The Road to Serfdom sent shock waves around intelligentsia circles because Hayek claimed that socialism was just another form of communism and fascism. More importantly, Hayek claimed that individual freedom could not be protected in a socialist society.
Most intellectuals during World War II described Fascism and National Socialism (Nazism) as a counter to capitalism. But, Hayek argued that Fascism and Nazism was actually a continuation of socialism.
Before reading The Road to Serfdom, I had never heard this belief that fascism is an off-shoot of socialism. Being a Russian studies major in college, I couldn't understand why I had never heard this theory before. Instead, I was always taught that fascism and Nazism was a byproduct of capitalism. But, every time I heard this concept, it just never seemed right to me. Individual freedom is at the core of capitalism and it just never seemed right to me that capitalism could evolve into totalitarianism. When I read Hayek's work, finally my beliefs were legitimized.
Another thing about The Road to Serfdom that fascinates me is that it was written during World War II. It is great to read about socialism, communism and fascism from someone writing during the Second World War. This is not someone reflecting on distant memories of the world at that time, but instead thoughts formed during the war.
I think that as this series continues, you too will be drawn into Hayek's writings. Please subscribe to The Debt Hawk to make sure that you don't miss my next article in this series.
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- F.A. Hayek: The Road to Serfdom
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I don’t think “fascism” “socialism” and even perhaps “Capitalism” are great labels at all, especially when they come to be used in comparisons. It’s like the lameness of a two-party political system. They’re unprecise and can be better replaced by discussing the specific point-by-point issues in question – this would lead to better comparisons as well. eg., I’m sick of hearing “socialism” applied equally to Canada’s healthcare system AND the old Soviet regime. Or people now starting to call Obama Hitler. It’s just lazy thinking – argue the real issues by specifying them and doing the real work. That’s my two cents. (Sorry to rant! I’ll still want to check out this guy’s book because I do want to learn more about Austrian economics).
Labels can be misused, but if you are going to be able to discuss a subject you have to be able to define concepts. As I continue the discussion on The Road to Serfdom, I will be exploring these labels in depth.
Like you, I hate to hear anyone refer to President Obama as Hitler. It really does diminish the horror of Nazism and Fascism when such terms are thrown around indiscriminately.
Socialism does scare me however. I believe that economic freedom and political freedom go hand in hand. Government needs to always treat the individual more important than the collective. Otherwise, no one is free.
Let’s work our way through The Road to Serfdom and see how Hayek describes socialism.
Hey Debt Hawk,
Very cool topic! With apologies to MoneyEnergy, here is a label for you: socialism is essentially communism-light.
While it’s by no means perfect, capitalism just doesn’t impose on us like socialism does.
Unfortunately, in order to implement costly socialist policies, governments have no choice but to forceably redistribute the wealth of its citizens.
I eagerly await the rest of your posts on FA Hayek!
My $0.02 (after taxes)
Len
Len Penzo dot Com