The Road To Serfdom

Economic planning tends to become much more difficult than theorists expect. What could cause this disconnect between theory and reality?

Can a socialist society protect individual freedoms? Suggest some safeguards and how they would work.

Present a situation where a free-market industry might fail, and offer an instance where a centrally-planned industry might do well.

Was Nazism, as Hayek insists, a type of socialism, or was it basically capitalistic in nature? Support your viewpoint.

During wartime, the state often commandeers industries and other resources. Socialists believe this should continue when the war ends. Does wartime planning make the case for peacetime planning, or is war a special economic situation that doesn’t apply afterward? Explain your thinking.

Today’s economic issues and crises differ significantly from those discussed in The Road to Serfdom. How has the argument between socialists and capitalists changed in light of these new concerns?

Hayek believes that socialism will degrade moral standards. Do you agree or disagree? Explain why.

Imagine that you are handed the job of planning a country’s economy so that it is fair to everyone. What would be your first priorities?