Reaction to 'The Road to Serfdom.'

Article Abstract:

Austrian-born economist F.A. Hayek's book 'The Road to Serfdom,' published at the end of the second world war, attracted considerable controversy. Hayek and his critics clashed over the capabilities of human reason and the meaning and character of historical change. The debate over this book took place among people who regarded themselves as 'liberals.' In fact, further investigation of Hayek and his critics indicates that one group of thinkers continued to support classical liberalism, while another group supported a new theory they named 'liberal.' This book attacked the idea of modernity itself as intellectuals of the time understood it.

Criticism and interpretation, Hayek, F.A., The Road to Serfdom (Book)

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Deficits, defense and income redistribution

Article Abstract:

US budget deficits underwent a change in the 1960s. This change ties in with a hypothesis that debt is likely to increase, resulting in a transfer of income from one generation to another, when there are political forces leading to income redistribution from one group to another. Civil Rights legislation lead to low-wealth individuals gaining the franchise in the 1960s, when redistribution programs emerged. Defense spending tends to rise with budget deficits as it allows bequests to be transferable.

Legislative Bodies, Budget, Political aspects, Civil rights, Defense spending, Budget deficits

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Cuba's road to serfdom

Article Abstract:

The US unilateral embargo on Cuba was established in the 1960s in an attempt to provoke change in the behavior of a repressive, dictatorial government. If the embargo were lifted, low returns to capital due to a mismanaged economy would not produce major capital inflows for Cuba.

United States, Cuba, Foreign investments, Laws, regulations and rules, United States foreign relations, Cuban foreign relations, International relations, Embargoes

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