Hayek Proved Right (Again), Micro-Managing an Economy Leads to Serfdom

North Korea has shut down its universities for the next 10 months and sent students to work in factories, agriculture and the construction sectors, according to London's The Telegraph.

Reports in South Korea indicate that the government in Pyongyang on Monday ordered all universities to cancel classes until April of next year.

A poor economy and also fears of student uprisings at Universities appear to be behind the order.