Socialism’s road to serfdom explained

Prior to WWII John Maynard Keynes and the Keynesian economic profession had convinced Britain that Socialism was preferred over free-market capitalism. However, that started to change during WWII — and what Friedrich Hayek, a young Austrian economist, witnessed in both Britain and Germany was documented in his classic book “The Road to Serfdom” published in 1944 in America for the benefit of...

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