The Road to Serfdom

Book Review

«The Road to Serfdom» by Friedrich von Hayek is a classic work that has made a significant contribution to political and economic theory. Written in 1944, the book critiques socialism and planned economies. Hayek argues that centralized planning inevitably leads to the loss of individual freedom and the establishment of a totalitarian regime. He warns that attempts to control the economy ultimately lead to control over all aspects of citizens' lives. Critics note that Hayek convincingly demonstrates how good intentions can lead to undesirable consequences and emphasize the relevance of his ideas in contemporary discussions about the role of the state in the economy. However, some critics point out that Hayek underestimates the ability of democratic institutions to prevent authoritarianism. Despite this, «The Road to Serfdom» remains an important source for understanding the dangers of excessive government intervention and for defending liberal values.