Penn State

Richard R. Young - professor of supply chain management, Penn State Harrisburg

Book Title: The Road to Serfdom (Collected Works of F.A. Hayek, vol. 2)

Author: Frederick Hayek

Book Description:

One cannot overstate the need to understand the value of speed and decisiveness in making economic decisions if an individual, a firm, or even a society is to attain as well as maintain competitive advantage. There may be no more compelling reason to avoid centralized economic planning and to recognize that it is individual initiative and well-honed decision-making skills that advance free societies. Government action, specifically as central planning is, therefore, incompatible with the concept of a free society.

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