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

Author

Listed:
  • 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)

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.

Suggested Citation

  • Edward McPhail & Andrew Farrant, 2012. "The Servants of Obama's Machinery: F.A. Hayek's The Road to Serfdom Revisited?," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 38(4), pages 423-427.
  • Handle: RePEc:pal:easeco:v:38:y:2012:i:4:p:423-427
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