F.A. Hayeks Road Now Taken

By Robert Romano - November 19th, 2008 - Americans for Limited Government

Understandably, but mistakenly, the debate over the causes of the financial crisis has generated a false dichotomy between two camps: those who argue that the problem was deregulation, and those who argue that it was overregulation.

The reality is that it was central planning that caused the current economic crisis—and it is central planning that is taking us ever further down that dead end road to serfdom.

There are probably no two more important philosophers to study at this point in history than Frederick Hayek and Martin Niemoller. Niemoller's lesson is a short and cryptic one, warning about the dangers from recognizing too late the impending dangers, obvious when the rights of others are being taken and we fail to act. The Hayek lessons are more numerous and more subtle, but just as imperative. This is a great article about the current economic crisis and the need to remember the tyranny predicted by Hayek. Whether you call it serfdom, slavery or socialism, the result is the same.