A Overview of Economic Freedom in THE STREET to Serfdom, a Publication by Friedrich HayekA Overview of Economic Freedom in THE STREET to Serfdom, a Publication by Friedrich Hayek

A Overview of Economic Freedom in THE STREET to Serfdom, a Publication by Friedrich Hayek

Hayek Essay

Friedrich

Hayek, in his publication titled “THE STREET to Serfdom,” made a

huge claim that economical freedom was the foundation of most other freedoms.

To make such a major claim however he previously to devote a complete chapter of

his book to guard it, chapter 7; titled “Economic Control and

Totalitarianism.” His argument for that's not the one that can be

easily examined, therefore it is best to start out along with his definition of

economic freedom.

Hayek

says that financial flexibility can be “the control of the opportinity for all

our ends” (127). He places it bluntly because he fears that it's

something that shouldn’t be studied lightly and that needs to be

recinded from “the planners” for several reasons.

First he commences with saying that the power for us to choose “what

we respect as marginal” (126) will be stricken away, that's

discussing our marginal requirements as an overall economy. Taking that ability

from us would in place almost totally limit what we as

individuals stand for and invite “the financial planners”

to decide almost anything for us, for this will be their right/job.

They might be “directing all monetary activity…and the

allocation of the limited opportinity for all our ends” (126). He

goes on to

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