Like many people, I first read F.A. Hayek in college, and it has been a while since I read through “Serfdom” from cover to cover. As with any controversial book, it is sometimes hard to read it for only what it says, rather than what it means. However, having studied it again, I am reminded once
I recommend a read through this post on the myth of austerity in Europe by Philip Bagus, a professor at Rey Juan Carlos University in Spain: http://mises.org/daily/6289/The-Myth-of-Austerity It is a lucid restating of the classic Austrian argument against artificial interventions in recessionary market clearing mechanisms.