Recently re-read Road to Serfdom by FA Hayek and confirmed it has as much relevance today as when it was written. The shift to libertarian free market principles from centralized government modern liberalism is a global phenomena around the world. Hayek’s insights remain a must-read to preserve freedom.

Here are my 5 key takeaways that resonate profoundly with what’s going on in today’s world:

1. Central Planning Breeds Tyranny: Attempts to control the economy and concentrate power, inevitably leads to authoritarianism.

2. Markets Safeguard Freedom: Decentralized decision-making and voluntary exchange are essential for liberty and prosperity.

3. Socialism Undermines Democracy: Collectivist systems suppress dissent and prioritize the state over individual rights.

4. Rule of Law Is Vital: Freedom depends on laws, not arbitrary decisions by bureaucrats.

5. Freedom Is Fragile: Even well-meaning policies can erode liberty. Vigilance is essential to protect it.