Word: hayek
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Dates: during 1940-1949
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This newest attempt to bake a cake that we can both have and eat is one Britisher's answer to Professor Hayek's "Road to Serfdom" which argues the complete incompatibility of freedom and planning. Wootton defines freedom as the ability to do what you want, planning as a conscious choice of economic priorities by a public authority, and points out the area where planning does not necessarily mean curtailment of freedom. The book is perhaps more valuable as a picture of an ideal equilibrium than an aid in solving contemporary economic problems...
Finer's most recently published book was "Road to Reaction," an answer to Friedrich Hayek's volume "Road to serfdom...
...first university press book to become a Book-of-the-Month); Princeton (which he left to become, briefly, president of Oklahoma), and the University of Chicago, where he has continued to publish salable books by scholars (a recent one. The Road to Serfdom, by Friedrich Hayek...
...Road to Reaction," which is being written now and will probably appear in October, finer plans to label Hayek's "reasoning wrong, terminology distorted, outlook antiquated, planning false, and arguments fallacious and puerile. The whole thing is so ridiculous," adds Finer, "because of Hayek's illogical progression of ideas. He distrusts the people politically, but he has confidence in any one of those same people who cna be successful in economics; he believes in economic freedom, but not in political freedom...
Finer's refutation will follow and expand on those already written by Alvin H. Hansen, Stuart Chase, and Carl J. Friedrich, and will more exhaustively answer Hayek's points one by one. "The implications of his thesis are hideous," he says, "but most people don't realize them...