This is a classic political economical work that I finally got around to reading. What made the book interesting even before I read the work is the story of its author, Friedrich von Hayek. Hayek was at one time a prominent academic defender of socialism in his home country who later became an outspoken critic against socialism, communism and fascism. An Austrian who experienced firsthand the rise of socialism and fascism in his own country, this book has a prophetic tone directed towards its English readers. Hayek wrote this book from 1940 to 1943 during the height of World War Two to warn the English against adopting the same ideologies of the fascists they were fighting against; apparently fascists ideas have made inroads among some British elites. Interestingly enough, the book’s prophetic flavor remains relevant today with its warning against statist economic policies.
Many things could be said about the content of this book. A lengthy review would be impractical so what follows are some of the highlights. One thing I appreciated from the book is Hayek’s discussion of planned economies. “Planned economies” is truly a misnomer. Hayek makes it clear that he’s not against planned economies per se, for instance in the case of individuals making rational economic decisions for themselves; rather he is against the type of planned economies made by the government that comes with force from the rule of law. His chapter on the relationship of planned economies and totalitarianism tells us one chief reason why government planned economies is bad. I also appreciated the book’s discussion of Nazism’s socialistic roots which challenges the modern myths today that the Nazis were truly conservatives and right wingers in their values. Readers who want to see the arguments further developed that the Nazis were socialists and left-leaning should consult the book Liberal Fascism, a wonderful work I read simultaneously with this book. I also enjoyed Hayek’s last chapter which dealt with the suggestion offered by some that a global controlled economies is a great economic goal but Hayek argues that if planned economies can’t take off at the level of the state what makes one think it will work at a larger scale? It will only make matters worst. Great book!
The Domain for Truth 
Thanks for the review. Lord bless you.
You’re welcome Rob!
I appreciate being able to benefit from your reading labors. I really enjoy the book reviews.
A Servant
I hope it will bless others especially those searching and looking for a book review on this topic. Thanks again! Will be reading your blog later tonight. =)
Tomorrow is my last on Morning Coffee. I am handing off to Levi who will take over Monday on his site. I’ll start an epistle study on 1 Peter on Monday as well.
The questions were fun but I prefer my verse by verse studies.
God bless you brother, thanks for supporting Morning Coffee.
While I have not read this book, Ayn Rand’s Atlas Shrugged is a very eye opening book about our current political and economic society. She also wrote The Fountainhead (which I have also read) that follows along the same lines, but a bit milder. Her books reflect a very “objective” view, but her ability to see 70-80 years into the future shows that she had a grasp on mankind that very few see, even though it was not a Christian view.
I’ve appreciated some of the Conservative insights of Rand and her Objectivists followers but their atheism makes it rather obnoxious at times. But clearly inslightful politically and economically.
Yes, objectivism, or “this world” seems to be their only hope and goal. Get as much as you can right here, right now. As Paul said, “If the dead are not raised, LET US EAT AND DRINK, FOR TOMORROW WE DIE,” (1 Cor 15:32b), then how can natural man face the life that Rand puts forth? From my regenerated condition, I look back at my old life, and find that the fatalistic outlook that I once held is such an indicator that there truly is a God and that He is the author of salvation.
While Rand and her followers in no way espouse the Christian worldview, I have been inspired in my own Christian worldview by reading her works. It also makes me understand the blindness and total depravity of the natural mans heart. This, I think, is another way in which God gets glory in all things. At least in my case, He has used a person who preaches a message of fatalistic objectivism and has strengthened my faith with her message.
Thanks for sharing this! I think the biggest thing I learned from her as filtered through the Christian worldview is what a politics of envy against the rich looks like and it’s eventual consequences to us all in the long run.