Venezuela Proves There is No Political Freedom Without Economic Freedom
As Democrats increasingly adopt the slogans and policy positions of the Venezuelan dictatorship, it is worth understanding what a catastrophe Venezuela has actually become, and why.
by Brittany Hunter
December 27, 2107
Venezuela is a catastrophe, as needlessly so as it was predictable. And it was predicted, all too thoroughly, by Nobel Prize-winning economist F.A. Hayek.
Hayek is truly at his best in the seventh chapter of The Road to Serfdom, “Economic Control and Totalitarianism.” In past chapters, he has rationalized moderate state intervention in the economy. But here, we see him destroy the notion that economic control is not directly linked to the rise of tyranny and the loss of individual liberty.
His arguments are so convincing, in part, because he highlights the indisputable fact that everything in our lives is tied to economics.
Rule of Experts
The impact that the field of economics has on our daily lives is not easily recognized by the majority of people. Preoccupied with our immediate needs and daily tasks, the state of the economy not only seems disconnected from our lives, it feels almost completely irrelevant.
And since something as complex as the nation…
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