The groundbreaking book by the renowned economist and intellectual opponent of John Maynard Keynes. "Rarely does an economist succeed in awakening a broad audience with a book. An important exception is The Road to Serfdom, the legendary book by the later Nobel laureate Friedrich A. v. Hayek. A year before the end of the war, Hayek published in London his isolation and beliefs gained during the 1920s and 1930s, especially the view that any planned economy has a tendency towards totalitarianism and that there can be no middle ground between socialism and a market economy. The Road to Serfdom is central to the ideas that are now, somewhat misleadingly, called neoliberalism. The belief that economic problems are best solved through free markets and that the role of the state should be limited. Hayek's particularly memorable thought on why planned economies and democracy are incompatible."