The Road to Serfdom (part two) History

The second part of The Road to Serfdom is about the idea, that competition much better coordinates people’s actions in the society than state regulations. The state should interfere only when market rules do not work: for instance, to secure equality before the law, limit monopolies or protect environment. State officials should not substitute free market forces because to have similar impact they would need to exercise much more power, which would inevitably lead to dictatorship.