6/30/2023 0 Comments The road to serfdom fa hayekThe only way to make it all work is by coercion and force. There is the privilege of one group over another. When the economy is won by groups of monopolies coalesced with their labor organizations, then there isn't equality. Therefore, one of the freedoms given up in the move to planning is the individual's freedom to choose his own occupation and employment. The only way the planners can reallocate resources, including labor, is by the use of force. Planning that takes the place of the markets robs the individual of this freedom of choice. The market results in an efficient use of resources with output production in accordance with the preferences of consumers. This happens automatically through changes in wages and prices without direction from a commissar. A market allocates resources, one of which is labor, to different uses in response to market conditions. One of the choices and decisions regards the choice of occupation and employment. Individuals have the freedom to make their own choices and decisions. A democracy is based on individual freedoms. Hayek is a powerful analysis of how the use of economic planning leads to the evils of totalitarianism when economic planning replaces the markets.
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