The road out of serfdom
Yesterday John Fund wrote that F.A. Hayek, an “obscure professor at the London School of Economics” published The Road to Serfdom “as World War II was winding down”. Hayek “made a powerful case that the collectivist ideas then gaining ground would almost inevitably lead to a loss of liberty in all its forms”. He believed that the “ideas expounded by thinkers like Adam Smith, David Hume and Edmund Burke, who promoted limited government and the rule of law, could prove a powerful antidote”.
In his column, Fund points to countries such as Bulgaria and Slovakia, which are adopting the limited government, low tax ideas of Adam Smith and Hayek and making real economic progress for the first time in fifty years.
Their ideas are succeeding because they are grounded in reality. “Adam Smith gazed into the human character and recognised that most of us want the best for ourselves and that this is a character trait that is unlikely to change. One of his brilliant insights is that when we have the freedom to create a living for ourselves within a system of just laws, we will cooperate with others in order to help ourselves, and our cooperation will be good for us and for other people, too."
Our new file on Adam Smith, Champion of Prosperity, is here.
Fund's piece came to us via Instapundit.