The Road to Serfdom

Overly academic tone (which was perhaps the style at that time) made it not a real page turner. But overall I really enjoyed it. He makes it all seem so obvious when he makes his critiques of socialism. But when I talk to about these points to a socialist, they didn't realize this stuff, and they never thought about it that way.

For example, socialists often assume that the state should be run in a way that enforces rules about not exploiting workers and not allowing racism. That requires a lot of “power”. And what kind of people end up typically acquiring roles that have a lot of power? It's not people like you. It's narcissists and sociopaths, naturally; just look at the past 2000 years or so. Sure, there are exceptions. And typically when these people get all that power it's not ending worker exploitation that gets them out of bed in the morning. It's their own ego. So the benefit of capitalism is that it relegates these egomaniacs to set their sights on building electric cars, or functioning within a limited congress, or making feature films, etc. Does it create a perfect egalitarian economy? In many senses it leaves a lot to be desired. But look at where we came from, before capitalism; the divides in society used to be a lot worse. And the societies that have “progressed” the most have often been the most capitalist ones. There are exceptions. But do we really want to hand over responsibility for choosing what's best for us to someone who only ostensibly has our interests at heart, but in reality is a flawed corruptible human being? I'd say no. And this book also spends a lot of time pointing out from direct experience of the propaganda machine, the direct connection between that Marxist line reasoning and the rise of the Nazi state. Conveniently most socialists I know choose not to believe that connection, and I don't blame them, because it would be too embarrassing to admit it.

Another interesting point was about how the heck would “planning the economy” work on a practical level? How can someone else tell you what to do when they don't know you and what you're actually good at? How can someone dictate the prices of bread when they don't know how much grain is available for sale? How can they take in all the numbers and construct all the formulas for setting everything up in a balanced way? And how could we all agree on what a balanced formulas outcome would be? It all would easily devolve into a corrupted power-grab. Maybe we should just let people decide on their own careers and set the prices of the goods that they sell, and consumers can make their own purchasing decisions about whether the price is worth it or not.