In 1945, Friedrich Hayek famously predicted that economic interventionism in the West would lead to the erosion of democracy and the rise of authoritarianism. More than sixty-five years later, this prediction does not seem to have been validated.
But while Hayek’s gloomy forecast might have been overblown, one Eastern European country, however, seems to be dangerously close to the scenario outlined in The Road to Serfdom. Following a series of policy mistakes by both the socialists and the current government, Hungary’s ruling Fidesz party is now “rebooting the system,” as Zoltan Kovacs, a minister of state for government communication, put it. With the latest constitutional changes, silencing of opposition radio stations, and changes to the electoral and media laws, Hungary risks becoming the first country in Central Europe to transition from a one-party system to democracy and back again.
