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