The Road to Serfdom remains one of the all-time classics of twentieth-century intellectual thought. For over half a century, it has inspired politicians and thinkers around the world, and has had a crucial impact on our political and cultural history. With trademark brilliance, Hayek argues convincingly that, while socialist ideals may be tempting, they cannot be accomplished except by means that few would approve of. Addressing economics, fascism, history, socialism and the Holocaust, Hayek unwraps the trappings of socialist ideology. He reveals to the world that little can result from such ideas except oppression and tyranny. Today, more than fifty years on, Hayek's warnings are just as valid as when The Road to Serfdom was first published.
This book has become a true classic: essential reading for everyone who is seriously interested in politics in the broadest and least partisan sense.
- Milton Friedman
This book should be read by everybody. It is no use saying that there are a great many people who are not interested in politics; the political issue discussed by Dr Hayek concerns every single member of the community.
- The Listener
Friedrich von Hayek
Friedrich August Hayek CH (8 May 1899 – 23 March 1992), born in Austria-Hungary as Friedrich August von Hayek and frequently known as F. A. Hayek, was an Austrian, later turned British, economist and philosopher best known for his defense of classical liberalism. In 1974, Hayek shared the Nobel Memorial Prize in Economic Sciences (with Gunnar Myrdal) for his "pioneering work in the theory of money and economic fluctuations and ... penetrating analysis of the interdependence of economic, social and institutional phenomena".
Hayek is an economist and major political thinker of the twentieth century. Hayek's account of how changing prices communicate information which enables individuals to coordinate their plans is widely regarded as an important achievement in economics. He also contributed to the fields of systems thinking, jurisprudence, neuroscience, and the history of ideas.
Hayek served in World War I and said that his experience in the war and his desire to help avoid the mistakes that had led to the war led him to his career. Hayek lived in Austria, Great Britain, the United States and Germany, and became a British subject in 1938. He spent most of his academic life at the London School of Economics (LSE), the University of Chicago, and the University of Freiburg.
In 1984, he was appointed as a member of the Order of the Companions of Honour by Queen Elizabeth II on the advice of Prime Minister Margaret Thatcher for his "services to the study of economics". He was the first recipient of the Hanns Martin Schleyer Prizein 1984. He also received the US Presidential Medal of Freedom in 1991 from president George H. W. Bush. In 2011, his article The Use of Knowledge in Society was selected as one of the top 20 articles published in the American Economic Review during its first 100 years.