In 1944, when Roosevelt unveiled his “Second Bill of Rights,” Friedrich von Hayek, an Austrian economist, political theorist, and future Nobel Prize winner, wrote The Road To Serfdom. That book rightly became a sensation both in England and in the United States, especially after the publication of its condensed version in The Reader’s Digest in April 1945. Hayek’s basic message was the exact opposite of Roosevelt’s. He was deeply suspicious of government intervention into markets, thinking that it could lead to economic stagnation on the one hand and to political tyranny on the other.
The Reader’s Digest version of The Road to Serfdom: