Customer Reviews
"All that is gold does not glitter" - By: Pieter, 27 Jun 2008 
This definitive edition has been edited & provided with a Foreword & Introduction by Bruce Caldwell who retained the prefaces & forewords of earlier editions. The text has been enhanced by explanatory notes & 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 & history. Hayek's main point, that whatever the problem, human nature demands that government provide the solution & that this is the road to hell, remains more valid than ever. He demonstrated the similarities between Soviet communism & fascism in Germany & Italy.
The consensus in post-war Europe was for the welfare state which seemed humane & 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 & the Middle East, & a tendency to exchange their ancient cultural values for multiculturalism & 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 & power, the falllacy of the utopian idea, state planning versus the rule of law, economic control, totalitarianism, security & economic freedom. He brilliantly explains how we are faced with two irreconcilable forms of social organization. Choice & 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 alll 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 & Thatcher & by the amazing growth of the Asian Tiger economies, & 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 & France during the first years of the millennium. Old Europe would have benefited by a Thatcher & 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 & different types of propaganda. As pointed out by Chantal Delsol in Icarus Falllen, 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 & 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) & Introduction to the 1994 Edition by Milton Friedman. The book concludes with an index.
