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Source link: http://archive.mises.org/11396/what-price-a-planned-economy/

What Price a Planned Economy?

January 7, 2010 by

We are witnessing a great tragedy: more and more people being driven by indignation about the suppression of political and intellectual freedom joining the forces which make its ultimate suppression inevitable. FULL ARTICLE by F.A. Hayek

{ 6 comments }

Mike January 7, 2010 at 10:58 am

Beautiful. Long-ish but well worth the read.

Sherry January 7, 2010 at 2:21 pm

Mr. Hayek you fail to see that the real danger to liberty is not socialism – - it’s criminal capitalism a.la.wall street with the bot and sold politicians and neutered
regulators they managed to put in place at the FED &Treasury and their control of the commanding heights of our economy. Just wait till the 1.2 quadrillion derivative market (they created these insc-rutable, fraudulent securities and marketed them worldwide in the last 15 years) hits the fan . . . then there will be less of your bawling as your patrons cannabilize themselves and stop funding your oval table paychecks. It won’t be long…. your
capitalist day of reckoning is coming for you too!!
P.S.See you on the unemployment line!!!

Inquisitor January 7, 2010 at 2:49 pm

“Mr. Hayek you fail to see that the real danger to liberty is not socialism – - it’s criminal capitalism a.la.wall street with the bot and sold politicians”

First of all, Hayek is dead. Second of all, no, he doesn’t. Socialism in all its forms, be it fascist, egalitarian, corporatist &c. is a threat to liberty, and that includes what you mentioned above. Learn proper English, read some Mises and Hayek, get a clue, then return to comment. Hint: it’s called credit expansion.

Vlad January 8, 2010 at 1:46 am

Dear Sherry,
In a socialist totalitarian state you would not be able to post such comments (you would not even have internet access). You would be kidnapped in the middle of the night and taken in for questioning. You take your liberty for granted!
P.S. do not be scared of the derivative market collapse. Human Action will prevail :)

Mike Foster January 8, 2010 at 12:21 pm

Yep, absolutely beautiful. It seems to me that this article, more than anything, proves why Democracy doesn’t work and why we should be happy to live under the rule of law, as opposed to living under the rule of man. It shows how, if we each want freedom, we must relinquish the desire to control others.

And yet, at the end of the article he is still using the D word. I am quite confused by all the talk about Democracy. Do any of you know any politician who doesn’t worship the D word and use it in every other sentence? In today’s “democracy” the majority has come to be those with the most wealth and influence – not those with the greatest number of people on their side. And even if D was actually based on the will of the most… is it right to “lawfully” oppress the minority? Be careful how you answer and consider the fact that the great majority of us are in the economic minority.

Again, if you want freedom you have to be willing to allow others to have freedom too – even if others do things with which you disagree. This is what I get out of this great article.

William January 12, 2010 at 8:21 am

Nice article… He is speaking in 1938 at a time when many saw democracy as failing and looked to Hitler to rescue the economic model. I love the lines…

if democracy had to abdicate only from the control of economic life, this might still be regarded as a minor evil compared with the advantages expected from planning….

But it is a fatal delusion to believe that authoritarian government can be confined to economic matters…

He was sure right about Hitler.

But remember he went pro authortarian with Pinochet.

It is a great shame he can not comment on the rise of China. I think he would have been excited…

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