Seventy years ago this month, on March 10, 1944, “The Road to Serfdom” by Friedrich A. Hayek was first published in Great Britain. For seven decades it has continued to challenge and influence the political-economic landscape of the world. Hayek delivered an ominous warning that political trends in the Western democracies, including America, were all in the direction of a new form of servitude that threatened the personal and economic liberty of the citizens of these countries.
Tagged: World War II
Forgotten or at least certainly downplayed in the international remembrance of Mandela’s nearly three decades of imprisonment and his historical role in becoming the first black president of post-Apartheid South Africa is the fact that through most of the years of his active resistance leading up to his arrest and incarceration he accepted the Marxist interpretation that racism and racial discrimination were part and parcel of the capitalist system.
A common fallacy is that the Great Depression was ended by the explosive spending of World War II. But World War II actually institutionalized the sharp decline in the standard of living caused by the Depression.