F. A. Hayek on Brexit

08 Jun 2016 Leave a comment

by Jim Rose in economics

Lars Christensen's avatarThe Market Monetarist

I am in Munich today to do a presentation on Brexit at the European Institute COO-CFO Roundtable.

As I was leaving home this morning I brought along Hayek’s classic The Road to Serfdom. I realized it was at least two decades since I had read it (all) last time so I thought it could be interesting to read it again.

And since I am speaking about Brexit today I started with chapter 15 “The Prospects if International Order” and lo and behold I found this very interesting quote that seems highly relevant to the discussion of Brexit:

“The English people, for instance, perhaps even more than others, begin to realize what such schemes (LC: an international federation) mean only when it is presented to them that they might be a minority in the planning authority and that the main lines of the future economic development of Great Britain…

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