Analysis of Hayek's The Road to Serfdom Term Paper

Analysis of Hayeks The Road to Serfdom - Term study ExampleUltimately, Hayek believes that these two states and others did not intend to go down this road to serfdom however, he thinks, it is the congenital result of a certain philosophy and a particular concept of freedom. These inconsistent ideas make affirmable the kind of unjust distribution and allocation of resources resulting in the tyrannical socialist state where conflict is unstopping, sparing principles are ignored, and suffering is taken to be the norm. Hayek intended the content and theories in this organize not tho to apply to the climate in which he wrote it but to the condition of societies as they exist decades and even centuries into the future. Hayek begins his work with a worry that socialist economy and underlying planning is essentially a road to serfdom and that if bingle goes along this road, one will be traveling down the similar road as the well-nigh brutal totalitarian states of the 20th century. Citing Hitlers 1941 proclamation that basically National Socialism and Marxism are the same, Hayek begins his work with that basic theme. ... Using this thrust of the argument, Hayek analyzes the central planning aspect of many economies in the world. If societies baron be better off using a spontaneous order, then what is the purpose of a central plan, Austrian economists might argue. The idea of spontaneous order is inherent in the invisible hand scotch proposal in Adam Smiths The Wealth of Nation however, Hayek elaborates on the likelihood of performing on more complete information in the case of spontaneous order, whereas the centralized authority operates on a limited set of information, attempting to make decisions affecting the economy. Hayeks second chapter deals with something he calls The Great Utopia, which is a reference to the socialist state that utilizes central planning. The most important part of this section is the argument that socialism and communism together a re an illusion (Hayek 165). That is, they are merely the first step in a process that ultimately ends in fascism and tyranny. This is the lack of agreement on the ends but an agreement on the means.