The Road to Serfdom after 75 Years
- (pp. 720-48)
(Complimentary)
Abstract
This paper revisits Friedrich Hayek's book, The Road to Serfdom, on the seventy-fifth anniversary of its publication. Though the book is well-known, its arguments are often mischaracterized. The paper traces the origins of the book, noting the various people and arguments that Hayek was responding to, and places it in the context of its times. The structure of the book is explored and some common criticisms addressed. Finally, it is shown how, after its publication, the book took on a life of its own.Citation
Caldwell, Bruce. 2020. "The Road to Serfdom after 75 Years." Journal of Economic Literature, 58 (3): 720-48. DOI: 10.1257/jel.20191542Additional Materials
JEL Classification
- B25 History of Economic Thought since 1925: Historical; Institutional; Evolutionary; Austrian; Stockholm School
- B31 History of Economic Thought: Individuals
- P11 Capitalist Systems: Planning, Coordination, and Reform
- P16 Capitalist Systems: Political Economy
- P21 Socialist Systems and Transitional Economies: Planning, Coordination, and Reform
- P26 Socialist Systems and Transitional Economies: Political Economy; Property Rights