The Road to Serfdom

The Road to Serfdom is a book written by the Austrian-born economist and philosopher Friedrich von Hayek (1899–1992) between 1940–1943, in which he ”warned of the danger of tyranny that inevitably results from government control of economic decision-making through central planning,”[1] and in which he argues that the abandonment of individualism, liberalism, and freedom inevitably leads to socialist or fascist oppression and tyranny and the serfdom of the individual. Significantly, Hayek challenged the general view among British academics that fascism was a capitalist reaction against socialism, instead arguing that fascism and socialism had common roots in central economic planning and the power of the state over the individual.

The Road to Serfdom is among the most influential and popular expositions of market libertarianism and remains a popular and influential work in contemporary discourse, selling over two million copies, and remaining a best-seller.

The Road to Serfdom has had a significant impact on twentieth century conservative and libertarian economic and political discourse and is often cited today by commentators.