Are we on the road to serfdom?

For this month’s book club, Jerusalem Demsas and Matt Yglesias read Friedrich von Hayek’s “The Road to Serfdom,” the 1944 book that argued central planning inevitably leads to totalitarianism and became one of the most cited books in American and British politics. Jerusalem and Matt get into whether Hayek’s central thesis actually explains Nazi Germany, the similarities between socialism and fascism, and why authoritarian regimes are always run by scumbags instead of nice-guy technocrats.

(00:00) Are we on the road to serfdom?
(02:25) Hayek's real argument: central planning leads to dictatorship
(05:26) Britain puts Hayek's theory to the test
(08:20) What's the line between socialism and the welfare state?
(14:49) Why this 80-year-old debate keeps coming back
(20:45) The viral tweet about life before Uber
(31:49) What does "economic freedom" actually mean?
(48:22) Decentralizing power: philanthropy, federalism, and price controls
(56:45) When regulation goes too far
(01:15:28) Why the worst people always end up on top

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The Argument is produced by Justin Zuckerman, fact-checked by Eli Richman, with music by Breakmaster Cylinder and art by Ben Tousley.