When FA Hayek wrote The Road to Serfdom, almost all the smart people -- the political leaders -- believed that socialism was best.

National planning, they said, was just more efficient. You get the smartest people together in a room and they lay out a plan that everyone will follow. Reminds me of Obamacare. Wise leaders will provide a central plan for all of us. That is the route to equality and prosperity.

But Hayek had it right when he said, No! Government control is the route to stagnation and poverty. The economy is too complex for central planners to plan.

The central planners didn't like that. They still don't. They prefer the theories of economist John Maynard Keynes who said: government spending can spur economic growth.

I wish they were here to debate that today. OMG, they are here -- debating in rap form!

Short of that, tonight we'll cover the debt, joined by Ron Paul and Stuart Varney.

We debate how far the environmental movement moves us down the road to serfdom. James Delingpole's new book Watermelons: The Green Movement's True Colors takes off from Margaret Thatcher's statement that the "green" movement "provides a marvelous excuse for worldwide ... socialism." Watermelons refers to something that's green on the outside, but red (communist) inside.

Playwright David Mamet will talk about how for years he just "assumed capitalism was bad." Then he was influenced by Thomas Sowell, Milton Friedman, and Hayek.

Ann Coulter will be on to argue that a "liberal mob" is taking us down the road to serfdom.

"On the Road to Serfdom" airs tonight at 10pm EST on FBN. Re-airing Saturday and Sunday at 9pm and midnight EST.