Hayek’s Road to Serfdom: Despotism Then and Now
We must revisit and strengthen these arguments if we are to choose capitalism and freedom over socialism and serfdom.
We must revisit and strengthen these arguments if we are to choose capitalism and freedom over socialism and serfdom.
"Congress and big oil companies colluded to reward risky behavior and lost their bet."
"Oil was supposed to disappear by 1900. But the automatic conserving and incentive workings of the price system have repeatedly given the lie to these absurd projections."
"All the portions served out are of the same size. One insatiable fellow today who asked for more was rightly served by being heartily laughed at. For what more deadly blow could be leveled at one of the fundamental principles of equality?"
People rebel against the insight that the malinvestment and overconsumption of the boom period are the cause of the bust.
Barthélemy de Laffemas comes to our attention because of the dozens of execrable pamphlets he wrote on behalf of the mercantile system that he was
"Everyone who opposed his views, according to Laffemas, was selfish, ignorant, and/or a traitor, and should be dealt with accordingly. All who disobeyed the regulations and prohibitions should suffer confiscation of their goods as well as death."
"In 1943 the Census Bureau divulged data that was used to identify Japanese Americans, who were then confined in concentration camps for the remaining duration of World War II — a fact that was suppressed by the bureau for over 50 years."
"Most of the essays in this book imagine radical new possibilities of living outside the status quo. Or perhaps we should say statist quo…"