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Spring 2017

ISSN 0890-913X

Volume 32, Number 1

The Intellectual Context of F. A. Hayek's The Road to Serfdom

Peter Boettke, George Mason University

Rosolino Candela, George Mason University

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TheJournalofPrivateEnterprise32(1),2017,29–44TheIntellectualContextofF.A.Hayek’sTheRoadtoSerfdomPeterBoettkeGeorgeMasonUniversityRosolinoCandela�GeorgeMasonUniversity______________________________________________________AbstractHayek’sTheRoadtoSerfdomisoftenreadasapolicybookandapoliticaltractforitstime.Itisalsooftenreadaslittlemorethana“slipperyslope”argument,leadinginevitablydownaroadfromafreesocietytothegulag.Inthispaper,wecountertheclaimthatTheRoadtoSerfdomprovidesaslipperyslopeargumentandexplainthat,whileitwasoftenreadandusedasapoliticaltractforitstime,Hayek’sbookispartofabroaderprojectdealingwiththeinstitutionalinfrastructurewithinwhicheconomicactivitytakesplace.______________________________________________________JELCodes:B2,B3,B53,P51Keywords:Hayek,TheRoadtoSerfdom,politicaleconomyofsocialismI.IntroductionIthasbeenoverseventyyearssinceF.A.HayekpublishedTheRoadtoSerfdom(1944),andsincethattime,HitlerwasdefeatedandWorldWarIIendedinvictoryfortheAlliesoftheWesterndemocraticstates.TheColdWarbetweentheWesterndemocraticstatesandtheSovietUnionanditssatellitecountriesensuedfromroughly1945to1991.TheWest’sconstitutionaldemocraciesweretransformedintosocialdemocraticstatesasgovernmentsinthesecountriesgrewinsizeandexpandedtheirscopefrom1945through1980.Intheintellectualrealm,theascendancyofKeynesianmacroeconomictheoryandthepolicyofdemandmanagementwerematchedbythedevelopmentofmicroeconomicmarketfailuretheoryandpoliciesregulatingcommerceandindustry.Withthebreakdownofthe�Theseremarkswerepreparedforthe84thAnnualMeetingoftheSouthernEconomicAssociation,November22–24,2014.Wethankananonymousrefereeforhelpfulcommentsandsuggestionsonapreviousdraftofthispaper.

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Title	The Intellectual Context of F. A. Hayek's The Road to Serfdom
Authors/Creators:	Peter Boettke, George Mason University Rosolino Candela, George Mason University
Year:	2017
Volume:	32
Number:	1
Pages:	29 - 44
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Keywords:	Hayek, The Road to Serfdom, political economy of socialism

Citation:
Boettke, Peter; Candela, Rosolino / 2017. "The Intellectual Context of F. A. Hayek's The Road to Serfdom." The Journal of Private Enterprise, 32(1): 29-44.