Categories:
Political Economy
I hadn’t read Friedrich Hayek’s The Road to Serfdom cover to cover for over 20 years. Today I did. I knew it was a good book but I concluded today that it’s a great book. Here are two of the most powerful passages:
Economic values are less important to us than many things precisely because in economic matters we are free to decide what to us is more, and what less, important. (p. 100)
And whoever controls all economic activity controls the means for all our ends and must therefore decide which are to be satisfied and which not. (p. 101)
READER COMMENTS
Lawrence
Oct 31 2008 at 4:30am
Here’s a link to a quick illustrated version…
http://mises.org/books/TRTS/
Babinich
Oct 31 2008 at 5:34am
“And whoever controls all economic activity controls the means for all our ends and must therefore decide which are to be satisfied and which not.”
In this country the question is: Will the statist or the capitalist have greater control?
The election will go a long way in answering this question.
Les
Oct 31 2008 at 7:13am
I certainly agree that “Economic values are less important to us than many things precisely because in economic matters we are free to decide what to us is more, and what less, important.”
But it seems to me that many non-economists make this choice without any awareness they are actually making a choice. I am frequently amazed at the confidence they show in their own opinions on economic issues despite utter lack of any knowledge of economics.
People who would never dream of practicing brain surgery or biophysics seem to have no hesitation in practicing what they falsely believe to be economics.
Speedmaster
Oct 31 2008 at 10:35am
Indeed! And a vote here for Friedman’s Capitalism and Freedom as well. 😉
Sheldon Richman
Oct 31 2008 at 10:55am
“In this country the question is: Will the statist or the capitalist have greater control?
“The election will go a long way in answering this question.”
I want neither to have control. Rather, I want each individual to have control of his or her life in the context of voluntary exchange and consensual relationships.
This election will make no difference in that regard.
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