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“A number of years ago, 1944, Friedrich Hayek wrote this very influential book, The Road to Serfdom. He worried that the creation of the welfare state, a strong government helping individuals would lead to authoritarianism. We now know that he was wrong. If we look around the world, populism, authoritarianism is associated not with government doing too much, but doing too little. By doing too little, it has given rise to discontent that threatens our democracy and threatens our ability to respond to the major challenges that we face.” — Joseph Stiglitz
A number of years ago, 1944, Friedrich Hayek wrote this very influential book, The Road to Serfdom. He worried that the creation of the welfare state, a strong government helping individuals would lead to authoritarianism. We now know that he was wrong. If we look around the world, populism, authoritarianism is associated not with government doing too much, but doing too little.
By doing too little, it has given rise to discontent that threatens our democracy and threatens our ability to respond to the major challenges that we face.