Compares the former's free market economics and the latter's mixed-economy socialism.
Written in 1992; 1,800 words; 2 sources; $ 63.95
From the Paper:
"This study will compare and contrast two works on economic theory --- F.A. Hayek's The Road to Serfdom and John Kenneth Galbraith's The Affluent Society. The study will consider the common elements of mixed-economy socialism (as described in Galbraith's book) and free market economics (as advocated by Hayek); the disagreements of the two authors; ways in which their ideas are reflected in any modern economic or political structures; and this reader's view on the legitimacy of the two authors' approaches to the questions raised.
The basic difference between the two books is that Galbraith argues for some measure of social planning which diverges from a strict free market economy, while Hayek argues from a more purely ideological viewpoint and sees any social planning as a surefire means of economic suicide for capitalism."
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