What You'll Learn:
Amidst the furor of World War II, economist and political theorist Friedrich Hayek felt compelled to warn England and the United States that they were beginning to embrace some of the same political and economic ideas that had paved the way to collective totalitarian states like Nazi Germany, fascist Italy, and Soviet Russia. Considered one of the most important political essays of the twentieth century, his ideas about the difficulties of central planning are as relevant as ever to the twenty-first.
Key Insights:
- Central planning does not advance the West’s political development, but disregards political traditions 2,500 years in the making.
- The word ‘socialism’ has managed to confuse proponents and opponents alike.
- To plan or not to plan isn’t the question; the question is who plans and for whom.
- The malicious and power-hungry inevitably rise to the top of a collectivist society because they are willing to do “what is necessary.”
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