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The Road to Serfdom by Friedrich Hayek: Summary and Analysis — Transcript

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0:00freedom it's one of these ideas that
0:03everyone loves that people are
0:04universally willing to die for to
0:07sacrifice for
0:08and it's different according to who you
0:10ask right because there are some people
0:12that say
0:13oh hey we might live in a dictatorship
0:16but it's our dictatorship right so
0:17there's no outside coercion going on
0:20it's our thing going on right you got to
0:22think fascist italians right there were
0:25a lot of people in that regime that were
0:27like you know what we might have a
0:29military dictatorship but we are
0:32fundamentally free it's ours
0:34and then you have people on the other
0:36side of the spectrum who say that you
0:38know people like the swiss right we want
0:40to have a vote and the government
0:42actually does it right so we are only
0:45free if we can tell the government what
0:47to do and they actually do it
0:50very different conceptions of freedom
0:52now one of the most compelling ideas of
0:55freedom comes from friedrich von hayek
0:58who was an austrian-born british
1:00economist hayak was alive during one of
1:03the worst times for freedom in history
1:06right there's the soviet union there's
1:08the fascist governments of italy and
1:10germany
1:11and even in the us and the uk it looks
1:14like they were abandoning freedom too so
1:17in this episode we are going to be
1:19exploring the road to serfdom that he
1:22wrote in response to the dying freedom
1:25of his age hello there my friends
1:28welcome back to history for thinkers a
1:30show that brings history to life
1:34before we get into it i want to give a
1:35massive thank you to everyone over on
1:37patreon for supporting the show guys i'm
1:40glad history matters as much to you as
1:43it does me i also want to personally
1:45thank matthew and tomas now for being
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1:56head on over to patreon for more
1:58information
1:59now
2:00let's get into the episode so in this
2:02book friedrich van hayek is going to
2:04argue that freedom
2:06is dying out and not in places that you
2:09would expect like the soviet union or
2:11nazi germany but places like the us and
2:14the uk
2:15and he believes that it is
2:17all based on central planning right
2:20government control of the economy this
2:22is ultimately he argues going to lead to
2:26a totalitarian dictatorship more or less
2:29so he is very worried about that and
2:30he's you know this is kind of his way of
2:33screaming to the world hey
2:35you know totalitarian dictatorships are
2:37coming here right it's coming to the us
2:39it's coming to the uk if we don't stop
2:42this nonsense that we're doing
2:45now this was written during world war ii
2:47so
2:48you know some people have said that he
2:50was overly paranoid about it right some
2:52government interference in the economy
2:54isn't the end of the world right um so
2:57just understand that there are many
2:58criticisms of this work
3:01as well
3:02but you can ultimately view friedrich
3:04von hayek as a classical liberal
3:06so he wants to expand economic freedom
3:09and individual liberty as much as
3:11humanly possible right that is the most
3:13important thing not just for the
3:15government but for all of humanity right
3:18we need to be able to make our own
3:19choices to sink or swim on our own
3:23and that is really the basis for this
3:25book
3:27but we need to start with some
3:28definitions because the book is called
3:30the road to serfdom what the heck is
3:32serfdom right
3:34so serfdom
3:36is a political economic and social
3:38system most prevalent during medieval
3:41europe
3:43so here are a couple things that
3:44describe it now this is pretty much
3:46universally
3:47reviled by most people you know during
3:49the 1900s and especially today right we
3:52look back on
3:54serfdom as kind of backward regressive
3:56right it kind of sucks and here are a
3:59couple of reasons right so there's this
4:01rigid
4:02hierarchical system
4:04you are based you know if you're above
4:06someone you can tell them to do whatever
4:08the heck and they they kind of have to
4:10listen
4:11right so it's very rigid very
4:13hierarchical
4:14you know their every single relationship
4:17with every single person that you know
4:19is you know i'm above them or i'm below
4:22them and you know exactly
4:24you know by how much right
4:27so there's no social mobility so it
4:29doesn't matter how smart you are how
4:31hard you work what you do you know you
4:33can be the best person in the world or
4:35the worst
4:36right you are
4:37in your social status and that's it
4:41and that wouldn't be the end of the
4:43world except right you inherit your
4:46status so if you are
4:48this brilliant
4:50smart person you're you're a deep
4:52thinker or you're a great person
4:55if you are born a serf
4:57you are going to stay a surf right and
5:00that's very rough and that very much
5:03sucks right so understandably people
5:05were happy when this system collapsed
5:08and generally serfdom is organized
5:11around
5:12religion
5:14so when you look at you know a place
5:16like medieval europe it was around
5:18christianity but then there were also
5:20places like
5:21you know in south america there were
5:23certain places in it you know they were
5:25organized around those religions right
5:27the ancient incas and the mayas
5:29um
5:30in asia you know a lot of it was
5:32organized around the the folk religions
5:35right
5:37so generally there are three classes in
5:39any given
5:41surf society or feudal society right
5:43whatever word you want to use basically
5:45the same thing
5:47so there's the nobility right the kings
5:50the queens the people that basically
5:52control the whole show
5:54then there's the clergy right and this
5:56doesn't necessarily refer to the
5:58christian clergy but you know the
6:00priests right the people that are
6:02uh
6:03that control the the culture more or
6:05less
6:06and then there's everyone else and it's
6:08more or less you know the 99 percent is
6:11is serfs
6:12so the nobility in the clergy right
6:14again they were just the one percent
6:16then there's everyone else
6:18so the serfs were comparable
6:21to slaves right
6:24even when you look at uh other feudal
6:27societies like in south america for
6:28example part of the reason the spanish
6:31conquistadors had such an easy time of
6:33conquering those civilizations was
6:36because well the underclasses were
6:38really pissed off and they were they
6:41teamed up with the spanish conquistadors
6:44right like funnily enough there were a
6:46lot of
6:46um you know these people that were like
6:49yeah i'll i'll help overthrow the system
6:51if it means i don't have to be a feudal
6:52surf anymore right and you have to
6:55imagine
6:56probably the same dynamic would have
6:57played out if there were foreign
6:59invaders coming to europe or any other
7:02given civilization for that matter so
7:05it kind of ripe for plunder in that way
7:08now at least in medieval europe you were
7:10not seen as explicitly property but
7:14still you were more or less a slave in
7:16practice you had no control over your
7:18life you had to work and serve an entire
7:21class of other people
7:24and again like i said
7:25to an extent this existed everywhere
7:28right from
7:29uh
7:30from pre-european south america to asia
7:34you know all over the place even in
7:35africa so this is you know i i kind of
7:38think of it as
7:40almost like
7:41a form of uh of evolution right so
7:45governments evolve right we learn from
7:47other governments oh if we do things
7:49this way we'll get this result and then
7:51people inevitably follow the better
7:53result right so i just kind of view it
7:56as an early iteration
7:58of a way to structure society right you
8:01compare
8:02the old iphone right like maybe the
8:05first through the second iphone to the
8:06to the iphone today right very stark
8:10contrast there right the very early one
8:12kind of sucks
8:13so
8:14you know going back to serfdom is very
8:16much seen as like a backward evolution
8:19right things are all things are getting
8:21better why do you want to bring in
8:24central planning in the economy and go
8:26back to this right why do you want to go
8:28back to serfdom
8:30so that's ultimately
8:31the line of thought that von hayek is
8:34taking here
8:36so again he is a big proponent of
8:38classical liberalism right individual
8:40autonomy he wants economic freedom he
8:43wants people to be able to get rich to
8:45start businesses to do whatever the heck
8:47they want to do
8:50and he also advocates largely for
8:52civil liberties right so everyone's
8:54equal before the law
8:57now this philosophy the philosophy of
9:00classical liberalism largely developed
9:02in response to mercantilism
9:05now let's understand what mercantilism
9:08actually is right so mercantilism
9:10allowed for private ownership of
9:12business and economic activity as long
9:15as it helped the government right so the
9:17good example is the british empire
9:20because they were very mercantilist you
9:22were allowed to start a business you
9:24were allowed to own private property you
9:25were allowed to get rich as hell
9:27but you had to do so in a way that was
9:30good for the government that didn't
9:31undermine them you weren't allowed to
9:33trade with enemies
9:35so you compare the british empire to
9:38uh the spanish empire they stopped each
9:40other from trading right so there were a
9:42lot of business owners that could have
9:44like you know maybe they were british
9:46and they could have sold a whole bunch
9:47of tea to the spaniards right that would
9:50have been great for them would have made
9:51a lot of money but the british empire
9:53was like well that's going to be good
9:56for the for the spanish empire so we're
9:58not going to allow that
10:00and that is
10:01you know basically the history of uh
10:04of these different colonial empires
10:06right there right a bunch of trade wars
10:09you know so this modern stuff we see
10:10with the us and china and everyone else
10:12this is not new this has always been
10:14going on right you stop your uh business
10:17people from trading with them and it
10:19hurts them
10:20so even in some ways we're still
10:22mercantilistic now
10:25that's a topic for another time though
10:27so these colonies especially
10:29with uh
10:31with the british empire specifically
10:33they were actually not started by the
10:35military but by companies right so there
10:39was this
10:40private ownership this let's go get rich
10:43idea behind the british empire
10:45particularly in a lot of others right
10:48and one of the things that they did was
10:50forced specialization
10:52so
10:53you think about the 13 colonies here in
10:56the us
10:58well there were some that were more or
11:00less forced
11:01to
11:02you know like if i think georgia they
11:04had to only grow cotton so they were
11:06basically forced into specialization now
11:09that makes georgia
11:11very weak in a in independence so they
11:15can't grow their own food right or
11:17they're discouraged from growing their
11:18own food they are discouraged from doing
11:20a whole bunch of things that would make
11:22them more self-sufficient more
11:24independent but
11:26it helps the overall british economy so
11:29you've got one colony that does nothing
11:31but do cotton okay that's great and then
11:34you've got another colony that does
11:35nothing but uh make tea
11:38all right so we got pennsylvania over
11:40here they do nothing but make tea and
11:43that overall
11:45makes the
11:46economy
11:47better
11:48but again
11:49it limits your individual freedom if you
11:52live in you know this or that state
11:53you're not allowed to start a business
11:55on whether or not you want
11:57to you know maybe you're passionate
11:58about tea making but you live in georgia
12:01right
12:02you don't want to be a cotton guy so
12:04sucks to suck right
12:07and again this just hinders economic
12:09independence but made the overall empire
12:12wealthier
12:15so another thing that von hayek is going
12:17to be arguing against here is
12:20socialism
12:21now we need to understand what the heck
12:23socialism is so he is arguing against
12:26state
12:27socialism
12:29there are a whole bunch of different uh
12:31forms of socialism right i think state
12:34socialism is most accurately described
12:36as communism right we're going to have
12:39collective ownership of everything and
12:42it's all going to be through the
12:43government and theoretically we all have
12:45a say
12:46in the government
12:48if you guys are fans of history you know
12:50how well this system plays out right
12:53everyone's like yeah everything we're
12:55just gonna all be equal we're all gonna
12:57own everything equally and we all have
12:59to say in this government it's gonna
13:01work out great doesn't play out that way
13:03his history has shown time and time
13:05again
13:07but it's important to understand that
13:09there are
13:10other branches of socialism that you
13:12know they advocate for the social
13:13ownership of the means of production so
13:16another
13:17uh version could be
13:19that the people who work the factory
13:21should be the owners right so more or
13:24less an economy of small business owners
13:26right and that's only one other version
13:28there are lots of different kinds of
13:30socialism but understand that von hayek
13:32is attacking
13:34state socialism right communism as we
13:36understand it today not these other
13:38kinds
13:40so with all that out of the way i think
13:42we can finally start getting into
13:44the episode itself some of the meat and
13:46potatoes so the government
13:49had a lot of control
13:51in the 20th century at least compared to
13:53previous generations
13:55and it was expanding faster than ever
13:57before this was partly due to the
14:00catastrophes
14:01going on uh a lot of it was also from
14:06you know the technology expanding right
14:08people
14:09from the government could now you know
14:11mass communicate with everyone right we
14:13had the radios and and then even tvs and
14:15stuff like that right it was pretty
14:17crazy tech
14:19but of course this was also the century
14:21of fascism and communism which didn't
14:24play out so well
14:26so communism nationalized industries
14:29right basically just turned everything
14:31into government property and oh yeah the
14:34government's gonna run everything great
14:37but when you look at even fascist
14:40governments
14:41it's not necessarily a centrally planned
14:45economy at least in theory but in
14:47practice
14:48right what happened was the big
14:50businesses in germany and italy
14:52collaborated with the regimes
14:56so
14:56let's just understand that there is no
14:58consensus on what fascist economics
15:01actually is right maybe self-sufficiency
15:05but yeah that's about it right there and
15:08even then you know who knows you know
15:10there are all kinds of different fascist
15:12regimes across the world that have
15:14existed that to an extent did have free
15:16market uh free markets that did have
15:19private property and ownership and you
15:22could start a business
15:23but they were still fascist governments
15:25right you didn't have a vote right if
15:27the government wanted to kill you and
15:29take your stuff they could and there was
15:30no recourse
15:33but
15:34van hayek warns of the quote danger of
15:37tyranny that inevitably results from
15:39government control of economic
15:40decision-making through central planning
15:43so this is the big idea here
15:46there is an inevitable tyranny that
15:49comes from this central planning right
15:52whether that's communism where they
15:54nationalize everything or even with
15:57germany and italy where they more or
15:59less partner up with big business
16:02right where that where the big companies
16:05more or less entrenched in the
16:06government itself
16:09and his big fear is that it was coming
16:12to us it was coming to the u.s it was
16:15coming to the uk and yeah and then we're
16:17going to be dictatorships too
16:20so he saw in practice these bastions of
16:22freedom abandoning freedom as well
16:25von hayek noted western nations quote
16:27progressively abandon that freedom in
16:29economic affairs without which personal
16:32and political freedom has never existed
16:35in the past
16:36so we are really free right now
16:38don't mess this up don't go back to
16:41serfdom because that's essentially what
16:42these other people are doing
16:45and part of the reason that he had this
16:48fear was because the us and the uk had
16:50adopted some elements of central
16:52planning in the 1900s right ideas that
16:55you could call
16:56socialism
16:57right creeping socialism right threat
17:00scare
17:01um
17:02one example was fdr's new deal
17:04right so
17:06um
17:07you know you can have different opinions
17:08on that uh a lot of people largely do
17:11view it as a positive i actually live in
17:13tennessee and if it had not been for the
17:15new deal we would still be getting
17:17flooded to this day so tennesseans view
17:20the new deal particularly positively but
17:23again there were elements of socialism
17:26there were elements of you know a lot of
17:28government spending and having more and
17:31more influence on the economy
17:34now there was a common justification by
17:38fdr and people like him and they
17:40justified it by saying that giving
17:42people a little bit of socialism was
17:45going to stop them
17:46from asking for a lot
17:48so
17:49you know people on the far left right
17:51socialists communists whatever the
17:54reason
17:55that they are so angry and embittered is
17:57you know they've got these legitimate
17:58grievances so let's let's acknowledge
18:01some some of them let's you know give
18:03people some government benefits and
18:05whatnot right and that's kind of the way
18:08it went down
18:10but hayek believed that these were steps
18:13toward a centrally planned economy and
18:16again this inevitably leads to tyranny
18:19inevitably leads to you know having your
18:22own stalin or your own hitler or
18:24whatever right
18:27an economy that more or less resembled
18:29feudal europe right so you think about
18:33these
18:34statist religions right communism and
18:36fascism
18:38their economies were more or less
18:40stagnant right more or less
18:42um
18:43and it was extremely unequal
18:46right p you know especially in the
18:48communist regime it was like stalin was
18:51living like a king everyone else kind of
18:53lived like
18:55so it was just kind of a rough system
18:57and in many ways it is just kind of a
19:00modern version of serfdom
19:03so hayek believed that central planning
19:05inevitably leads to totalitarianism
19:08because it requires quote the will of a
19:11small minority be imposed upon the
19:14people
19:15and this is really the big idea behind
19:18his argument here
19:20the will of a small minority being
19:22thrusted upon millions and millions upon
19:25p of people right that's that is the
19:27reason that feudal europe sucked that is
19:30the reason that the serfs were you know
19:32more or less slaves and had to suffer
19:33all day and you know be born into
19:35slavery again oh your kids are slaves
19:37too like it sucked
19:39and what made it so bad
19:41is
19:43an idea that is present also
19:45in communism and fascism right the
19:48government says we're going to do things
19:49this way and well
19:51that's how we're going to have to do
19:53that
19:54right and even if it didn't
19:56uh
19:57even if it wasn't bad to begin with like
20:00let's say you start out with good
20:01intentions inevitably that small
20:03minority of people will go bad right
20:07let's understand
20:08uh absolute power corrupts absolutely
20:12so even if you have like one or two good
20:14kings
20:15right historically you look at monarchy
20:17right there were some good kings like
20:20that's a fact but sooner or later you
20:23get a bad one
20:24you get a bad one and it kind of cancels
20:26out any of the good that a good king
20:28could have done
20:30von hayek also argued that
20:32this reduced individual liberty because
20:35quote the individual would more than
20:37ever become a mere means to be used by
20:40the authority in the service of such
20:41abstractions as the social welfare or
20:44the good of the community
20:48so we more or less
20:49become cogs
20:51in a machine
20:52we are reduced
20:54to
20:55something that the government can use as
20:57a tool
20:58right and when you look at the way
21:00that these governments treated their
21:01people that is more or less how it
21:03played out
21:04uh joseph stalin did not worry about the
21:09soldiers in the red army they were tools
21:12there were some they were something that
21:14you know what we're gonna throw as many
21:16people as we can at those germans
21:19and they're yeah they're gonna die but
21:21you know we've got more people than
21:22they've got bullets and that's how he
21:24won the war and in practice that is
21:26exactly how it played out same with the
21:28fascist governments right their people
21:31were expendable they were a means to an
21:34end
21:35and what happens is your life becomes
21:37expendable to the government you are
21:39just a tool for them
21:40nothing more
21:42nothing less
21:43so he draws a stark comparison between
21:45democracy and socialism and he writes
21:47quote democracy and socialism have
21:50nothing in common but one word equality
21:52but notice the difference while
21:54democracy seeks equality and liberty
21:57socialism seeks equality in restraint
22:00and servitude
22:02so the socialist regimes
22:04they want everyone equally
22:07miserable
22:08right you got to think democratic
22:10governments right the u.s and the uk
22:13we want equality before the law not
22:16economic equality we don't want everyone
22:18to be equal but we want we want the
22:21government the laws the police system
22:23the justice system to treat everyone the
22:25same
22:26if you're rich you're gonna go to prison
22:28for killing a kid if you're poor you're
22:30gonna go to prison for killing a kid
22:32that's the way it should work but you
22:34should be allowed to be poor or be rich
22:36based on your own merits your
22:37relationship to the free market right
22:40von hayek does a really good job of
22:42expanding on this idea here that the
22:44idea that central planning always leads
22:47to violence that it's necessarily and
22:49inevitably going to happen and he writes
22:52quote
22:52while the last resort of a competitive
22:54economy is the bailiff the ultimate
22:56sanction of a planned economy is the
22:58hangman
23:00so in our competitive free market
23:03democratic governments right
23:05we
23:06have courts we can settle our
23:08disagreements like settle civilized
23:11people
23:12but in the socialist
23:14way of doing things well there's no room
23:17for disagreement
23:18if you disagree with what joseph stalin
23:20is doing he's going to kill you that's
23:23it there's there's no room for argument
23:25right
23:26and um
23:28so it kind of gets at this idea that
23:30violence is the only way
23:32of resolving conflict because every
23:34every society is going to have some kind
23:36of conflict right people are going to
23:38disagree people are going to hate each
23:39other and they're going to fight if they
23:41don't have a court
23:43to settle their disputes
23:46and if reality and history has shown us
23:50anything it's that this was worse than
23:53van gaal could have possibly known
23:55because you know he's living through
23:56this
23:57not everyone knew about what was going
23:58on in the soviet union and whatnot but
24:01you look at something like the moscow
24:03show trials
24:04it was a pretty rough time if you
24:07disagreed with the government or you
24:08know the government was even a little
24:10suspicious of you they were going to get
24:12you
24:13and they were going to make a public
24:14spectacle of you and you were they were
24:16going to psychologically torture you and
24:18force you to commit to crimes that you
24:20couldn't even have committed right some
24:22pretty crazy stuff so it was worse than
24:24von hayek even realized
24:27but he also argued against his other
24:30idea
24:31that fascism is not a capitalist
24:34response to socialism
24:37so let's understand let's start from
24:39point a so feudalism turned into
24:41mercantilism which turned into
24:43capitalism
24:45now capitalism had its flaws right early
24:47on right workers rights were really bad
24:50you know child labor
24:52people could make food and it could be
24:55basically poison they could take a
24:57in the in the soup
24:59and that was you know like you couldn't
25:00do anything about it right so we had we
25:02had to improve upon that
25:04um and the socialists were some of the
25:06early people to point out
25:08a lot of the flaws in capitalism
25:11and many marxists particularly they
25:14believe that fascism is capitalism's
25:17natural response to socialism this is a
25:20very prevalent idea among leftists and
25:23socialists even today and it goes back
25:25to this time period
25:28and
25:29there is a possibly false quote from
25:31benito mussolini there's no proof
25:34that he actually wrote this but i think
25:36because of its popularity and
25:39how much it does encapsulate a lot of
25:41his
25:42ideology i think it is worth
25:45acknowledging so this false quote goes
25:47like this quote
25:49fascism should more properly be called
25:51corporatism since it is the merger of
25:54state and corporate power
25:57and again you look at what went down in
26:00nazi germany in fascist italy big
26:02government big business they got in the
26:04cahoots
26:05that is how it happened
26:08and you know again mussolini probably
26:10did not say this right it has not been
26:12verified historically but i think it
26:14encapsulates
26:15the idea very well
26:18so
26:20that is kind of why people especially
26:22like the marxists right marxist
26:24socialist they believed that
26:26capitalism is just
26:28you know it doesn't want to give in to
26:30the socialist demands so what does it do
26:33it goes to
26:34fascism where the big governments
26:37partner with the big business and
26:39they're going to crush
26:40socialism right which is also why
26:44you know there were a lot of big
26:45industrialists that were bodybuddy with
26:47the nazi regime so let's just
26:49acknowledge that some of that did come
26:52true but
26:54uh let's also acknowledge von hayek's
26:57point and he would say something to the
26:58effect of well you look at the central
27:01planning in the soviet union you look at
27:03the central planning more or less going
27:05on in these fascist governments
27:07right there's a lot more similarities
27:10between
27:11socialism or communism and fascism than
27:14there is between fascism and capitalism
27:16right
27:17so that's more or less his rebuttal on
27:19the whole thing but let's also have a
27:22little disclaimer at the end here
27:24because von hayek you can interpret some
27:27of these
27:28ideas in a certain way you can you know
27:30call him a radical free market
27:32individualist or whatever else but he
27:34does not think that any government
27:36involvement is bad
27:38in fact that uh there's this common
27:40perception today that socialism is when
27:42the government does stuff right and
27:45honestly guys i lean right myself right
27:47i am
27:48fairly conservative in a lot of my views
27:51um
27:52but you know the idea that socialism is
27:54when the government does anything
27:56is kind of flawed right the government
27:58has to do some stuff and he acknowledged
28:01that the government needs to have some
28:03authority over the economy right it
28:04needs to protect people from fraud and
28:07scams and you know again you think about
28:10some of the early stuff that went on
28:12with capitalism in its early days right
28:14people would make food they would use
28:16rotten meat people would get sick
28:18right
28:19if it were not for
28:21you know government laws coming around
28:23and changing that you know there was
28:26maybe today we would still be eating
28:28food and sometimes it makes us sick and
28:30die because you know they didn't use
28:32clean uh cooking utensils or whatever so
28:35von hayek articulated this idea like
28:37this quote in no system that could be
28:40rationally defended with a state just do
28:42nothing so the government does have to
28:44do some stuff right
28:46and it's not socialism when it happens
28:48right it's not socialism if the
28:50government
28:51does something
28:53um
28:54you know it and again it still needs to
28:56protect against fraud and bad actors and
28:58monopolies and right there are ways that
29:00your freedom can be limited by
29:02corporations right and you know the free
29:05market is not the be-all end-all god of
29:07everything right it does have some
29:09limitations in one in what it can and
29:12cannot do
29:14and van hayek even believed for a strong
29:18safety net writing quote there is no
29:20reason why in a society which has
29:22reached the general level of wealth ours
29:25has the first kind of security should
29:27not be guaranteed to all without
29:29endangering general freedom that is some
29:32minimum of food shelter and clothing
29:34sufficient to preserve health
29:37and you can view this as you know kind
29:40of maybe social welfare maybe some
29:42version of universal basic income you
29:44can interpret this whatever way you want
29:46but he more or less argues that there
29:47needs to be a strong
29:49safety net for people we don't just let
29:52people die
29:53because
29:54you know they're hungry right we gotta
29:56feed people you know and and again
29:59that is
30:00uh
30:02a movement that is not so
30:04fond of people that like von hayek so
30:08again let's say let's acknowledge he
30:10does have some
30:11uh ideas here that are typically thought
30:14of as left wing or anti-free market or
30:16socialist or whatever
30:18but
30:19he does have these disclaimers he's a
30:20very nuanced guy all great thinkers are
30:23very nuanced right they don't just
30:25worship this for that idea
30:28the free market is not the be-all
30:29end-all but my friend that is going to
30:32be it for the episode thank you so much
30:34for watching all the way through make
30:36sure to check out the patreon page if
30:38you guys want more content or maybe to
30:40get a shout out the start of every
30:42episode i really appreciate you guys so
30:45much
30:46this has been michael from history for
30:48thinkers i'll see you in the next one
30:51peace out
30:56[Music]
31:16you

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