Power & Market
Author:
Randall G. Holcombe
Online Publish Date:
In the 1940s, economist Friedrich Hayek said in his book, “The Road to Serfdom,” that the road to serfdom was socialism. Economist Joseph Schumpeter, in “Capitalism, Socialism, and Democracy,” feared that socialism would displace capitalism even though capitalism was a better system. In the 21st century, self-proclaimed socialists like Sen. Bernie