The Servants of Obama's Machinery: F.A. Hayek's The Road to Serfdom Revisited&quest

Edward McPhail and Andrew Farrant
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Edward McPhail: Department of Economics, Dickinson College, Carlisle, PA 17013, USA. E-mails: mcphail@dickinson.edu; farranta@dickinson.edu
Andrew Farrant: Department of Economics, Dickinson College, Carlisle, PA 17013, USA. E-mails: mcphail@dickinson.edu; farranta@dickinson.edu

Eastern Economic Journal, 2012, vol. 38, issue 4, 423-427

Abstract: We assess Peter Boettke's public choice reading of F. A. Hayek's The Road to Serfdom (1944). In particular, we argue that Boettke's reading of Hayek's thesis ignores the possibility that rent-seeking interests may block movements along Hayek's road and does not give sufficient weight to facts on the ground: Labour's political ideology—as well as its marked unwillingness and apparent inability to ride roughshod over a variety of de facto veto players—provided a relatively insurmountable roadblock on the road to serfdom.

Date: 2012
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