Tag Archives: Hayek

My Totally Biased Required Reading List for Lovers of Liberty

The Federalist Papers: The best description of the principles of liberty and how to apply them.

The Road to Serfdom: Explanation of how big government leads to tyranny.

The Path to Tyranny: Show how big government has historically led to tyranny.

Atlas Shrugged: Shows what the consequences of government intervention on the American economy.

Please suggest other “Required” books in the comments.

Head of European Commission warns we are back on the path to tyranny

The UK”s Daily Mail reports:

Democracy could ‘collapse’ in Greece, Spain and Portugal unless urgent action is taken to tackle the debt crisis, the head of the European Commission has warned.

In an extraordinary briefing to trade union chiefs last week, Commission President Jose Manuel Barroso set out an ‘apocalyptic’ vision in which crisis-hit countries in southern Europe could fall victim to military coups or popular uprisings as interest rates soar and public services collapse because their governments run out of money.

Meanwhile, the head of the European Trade Union Confederation said:

This is 1931, we’re heading back to the 1930s, with the Great Depression and we ended up with militarist dictatorship. I’m not saying we’re there yet, but it’s potentially very serious, not just economically, but politically as well.

After World War II, just about everybody swore off fascism, even though it continued to exist, most notably in Spain and Argentina. After the fall of the Soviet Union, the world said the same thing about communism. But Friedrich Hayek warned us in the 1956 preface to The Road to Serfdom:

Though hot socialism is probably a thing of the past, some of its conceptions have penetrated far too deeply in the whole structure of current thought to justify complacency.

Not only have we seen outright socialism reappear in places like Venezuela and Bolivia, it slowly took over Europe and the United States so that government now accounts for 47% of the European economy and 43% in the US.

Now we face a challenge similar to the one we faced in the 1920s and 1930s. Will we embrace totalitarianism and its false promises of effective government, cradle-to-grave support, and national rebirth as Germany, Italy, and the Soviet Union did? Or will we re-embrace liberty, economic freedom, and personal responsibility that our Founding Fathers gave us and resulted in the freest and wealthiest society the world had ever seen?

Another example of how socialism is always nationalist

In The Road to Serfdom, Friedrich Hayek points out how socialism must always be nationalist (Ch. 10 Why the Worst Get on Top). The battle between the Obama administration and British Petroleum could spark a trade war. It is already harming relations between the US and the UK.

British business on Wednesday expressed alarm at the “inappropriate” and in-creasingly aggressive rhetoric being deployed against BP by President Barack Obama, warning that the attacks on the oil company could affect energy security and damage wider transatlantic industry relations.

Richard Lambert, director general of the CBI, a leading British employers’ organisation, told the FT the presidential attack was “obviously a matter of concern – politicians getting heavily involved in business in this way always is”.

He suggested the White House strategy was misplaced, stating that “apart from anything else, BP is a vital part of the US energy infrastructure. So the US has an interest in the welfare of BP, as much as the rest of the world does.”