The Road To Sweden?

Does the Scandinavian economic model disprove Hayek‘s assertion that planned economies lead to totalitarianism? Don Boudreax argues that far from being centrally planned the Swedish system is compatible with Hayek’s vision for a liberal economy and society. Hayek said that “the planning against which all our criticism is directed is solely the planning against competition – the planning which is to be substituted for competition.” So because Scandinavian countries emphatically do not plan in this way, Samuelson was mistaken to …

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