When Austrian economist Friedrich A. Hayek (1899–1992) wrote his famous book The Road to Serfdom (1944) in the midst of the Second World War, he mentioned in the preface that he had often been told by his socialist colleagues that he would, no doubt, hold an important position in a future planned society, if only he would come around to agree with them and espouse their collectivist values.
But he could not. He firmly believed that too many people in society were attracted to the socialist vision of a future society without being properly informed and aware of all that such a command economy would entail. In spite of the socialist assurances that government control of economic affairs did not mean any essential reduction or loss in personal freedom and social liberties, Hayek was deeply fearful that once government was responsible for economic planning, no facet of life would remain outside of the control of those in political authority.
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