GMU economics professor Russ Roberts writes in today’s Wall Street Journal about the surge in popularity of F.A. Hayek’s 1944 classic The Road to Serfdom.
Roberts gives four powerful reasons why Hayek’s analysis of the faults of governmental control are as relevant as ever. In a nutshell, Hayek’s argument is that a society will enjoy more prosperity and freedom if it has a government of strictly limited authority to keep order and leaves everything else to the spontaneous order that arises from competition and cooperation.
Of course, The Road to Serfdom is a book Obama has not and will not read.
