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A way to understand one of the most important books on free-market economics in five minutes


A novel way to learn Friedrich Hayek's classic, 'The Road to Serfdom.'

This morning on the Glenn Beck radio program, Beck referenced a comic strip originally published in 1945 titled "The Road to Serfdom In Cartoons," which begins as follows (images courtesy of ZeroHedge/Mises):

serfdom 1

serfodm 2

serfodm 3

For those who have not read "The Road to Serfdom," the book, written by free-market economist Friedrich Hayek, provides a devastating critique of economic central planning, arguing that such a fascistic or collectivist system ultimately leads to tyranny and disaster.

In recent years, as a result of the substantial government intervention in the U.S. economy, there has been a re-discovery of Hayek's work -- with "The Road to Serfdom" becoming a no. 1 bestseller -- and the work of the Austrian school of economics more broadly. Amity Shlaes, a free-market proponent, recently published her popular book on the Great Depression, "The Forgotten Man," in graphic form herself (more about the book here).

Whether or not you have read "The Road to Serfdom," or just want to teach it to your kids, the comic strip, which one reader converted into video form is an incredibly effective way to pick up the fundamentals of Hayek's argument.

Check out the video version of the strip below, and you can read the comic strip over at the financial blog ZeroHedge, by way of the Mises Institute:

(H/T: ZeroHedge)

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