At a time when our personal freedoms are challenged, I reflect on the warnings of Friedrich Hayek the Austrian Nobel Laureate:
Please read this superb and rather long essay written on May 19, 2019.
https://www.fff.org/explore-freedom/article/f-a-hayek-on-individual-liberty/
F.A. Hayek on Individual Liberty by Richard M. Ebeling
The rebirth of a belief in and an enthusiasm for socialism and government planning among a noticeable number of academics, intellectuals, young people, and elected officials raises many of the fundamental issues surrounding freedom and command, market competition and political control.
Once more, a call is heard for doing away with free enterprise, this time in the name of a Green New Deal. The case is being made, again, that humankind must take the future of society into their own hands and remake it into forms and directions that are more rational and just than what results when “capitalism” runs unrestrained over the societal terrain in the pursuit of personal profit rather than goals advancing the common good and the general welfare.
Social justice, it is said, requires doing away with the income inequalities that emerge from the free play of supply and demand, because free-market–based results are all meant to distribute the most wealth into the hands of a few at the expense of the many. The “purpose” of the capitalist system is to exploit workers, minorities, and other victimized groups so the rich can be, well, rich.
The most frustrating elements in all this for the friend of freedom is how much of it has all been heard before, over and over again, during the last two hundred years. There is little in the latest versions of these statements that was not said in the nineteenth and twentieth centuries.