Hayek's "The Road to Serfdom" selling like hot cakes!

From the Washington Post:
http://bit.ly/bcilwt

"Hayek who died in 1992, is also reemerging as a bestselling author. A new edition of Hayek's seminal book, "The Road to Serfdom," was published in March 2007...For over a year-and-a-half, the book sold respectably, at a clip of about 600 copies a month."

"But then, in November 2008, sales more than quadrupled, and they haven't
slowed down since."

What accounts for the surge you ask?

"First off, the November 2008 sales spike date certainly suggests that Obama's election and the passing of control of both houses of Congress to the Democrats may have been an initial factor. The Republicans had been walloped, and some sought principled arguments that could be used to combat the policies of the party in
power."

"Even though Hayek himself disdained having his ideas attached to either party, he nonetheless provided arguments about the dangers of the unbridled growth of government"

"Another early impetus may have been the characterization of the health care debate as being about socialized medicine. Hayek, whose book is perhaps the most famous
attack on socialist central planning, would naturally be invoked by the health plan's opponents."

"But perhaps the biggest stimulus to sales was, well, the stimulus package. The macroeconomic analyses of John Maynard Keynes had gone quickly out of vogue
in the 1970s, when a decade of stagflation delivered a death blow to the notion
of Keynesian fine-tuning of the economy. But in early, 2009, people were talking
about Keynes again, and indeed the fiscal stimulus package, to the extent that
it had a theoretical underpinning, would fine one in Keynesian economics."

"in the end, however, I think that the underlying reason for the sustained
interest in Hayek's book is that it taps into a profound dissatisfaction in the public mind with the machinations of its government. Both Presidents Bush and Obama have presided over huge growth in the size of the federal government and in the size of the federal deficit, with little obvious effect on unemployment."

"Furthermore, a recurrent theme in the news is that, in contrast to the millions who are suffering, the politically connected are doing just fine. The examples are everywhere, from bailed out financiers getting huge bonuses to public union employees getting hefty pensions, from auto companies that are nationalized instead of going belly up to politically savvy firms that get government subsidies to
produce products that would otherwise be unprofitable."

"For people upset by such trends, "The Road to Serfdom" opens a window onto
another time, when debates about how best to restructure an economy emerging
from wartime were taking place. Such debates, as the strong sales of the book
clearly show, still have resonance today."


Hayek is the man and the "Road to Serfdom" is a must read for anyone interested in political economy, economics and freedom.

Comments

Popular posts from this blog

October retail sales come in strong, especially auto sales

Tea Party Buffalo Pictures

How to spot a fake Tea Partier