Thursday, June 10, 2010


While shopping in a bookstore, a friend who works there asked me if I had heard of 'The Road to Serfdom'. Indeed. I started to explain the ideological struggle between Hayek and Keynes and outline the Austrian, Chicago, and Keynesian schools of thought. I got about as far as saying the author of 'The Road to Serfdom' is Hayek. Summarizing these paradigms in 30 seconds usually leads to some sloppy, if not outright incorrect, characterizations.

At any rate, my friend told me that people were calling the store frequently and asking for Hayek's book. I went to the economics section and, indeed, there were no copies left whereas there were multiple ones a few weeks back. I couldn't help but think that the turn towards Hayek is the result of the silliness of our European friends as they wring their hands at the inefficacy of goverent profligacy to sustain a prosperous state.

I am watching the PBS production, Commanding Heights. I cannot help but be taken in by Hayek's charm. I'm glad the international community recognized the value of his contribution while he was alive to enjoy it.

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