We are currently in a dark age of capitalism. People are overwhelmingly blaming the free market for an economic collapse. Government intervention is bordering an all-time high, if it is not already there. The government now owns the means of production of some of America's largest industries and is attempting to take over even more. Some politicians are even getting ready to take some of the final steps towards a completely planned economy. Let there be no doubt that we are on the road to serfdom.
Serfdom is not defined, exclusively, by poverty. It is defined as a person in unfree poverty. Our rights and choices are slowly being taken away from us either to protect us from others, protect the economy, and even to protect us from ourselves. This road ends with us losing our freedom and all serving the state.
From all this negativity, however, I see some hope. Capitalism and free markets have never died. In Communist Russia, people would use the black market to complete tasks, both large and small. The same is true in Communist Cuba. The top jobs in Cuba is not doctor, lawyer or any skilled profession. The top jobs are all defined by access to foreign cash because it is worth so much more due to the state of their dreadful economy. No matter how much the government tries to kill the market it thrives. The government can certainly make it smaller, slower, less efficient and more tedious. They have and will but that is the extent of their power. They cannot kill it and this infuriates them.
In fact, the last time capitalism was under this much pressure to "throw in the towel" was likely during the writing of "The Road to Serfdom." People viewed two societies, fascism and socialism and decided that fascism represented the last throes of capitalism. Hayek pointed out that fascism is far more aligned with socialism than capitalism. The state takes away your rights, starts nationalizing your corporations and ends with state control of means of production. Hayek turned back this trend, almost single-handedly and that is where my hope comes from. My generation has not yet found our Hayek. He is out there noticing that things aren't going well. Whenever the government steps in to "fix" a problem it always gets worse. My generation will find it's Hayek. Frankly, it must.
"Collectivism is slavery." -FA Hayek
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