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Hayek gives the main arguments for the free-market case and presents his manifesto on the "errors of socialism." Hayek argues that socialism has, from its origins, been mistaken on factual, and even on logical, grounds and that its repeated failures in the many different practical applications of socialist ideas that this century has witnessed were the direct outcome of these errors. He labels as the "fatal conceit" the idea that "man is able to shape the world around him according to his wishes."
"The achievement of The Fatal Conceit is that it freshly shows why socialism must be refuted rather than merely dismissed—then refutes it again."—David R. Henderson, Fortune.
"Fascinating. . . . The energy and precision with which Mr. Hayek sweeps away his opposition is impressive."—Edward H. Crane, Wall Street Journal
F. A. Hayek is considered a pioneer in monetary theory, the preeminent proponent of the libertarian philosophy, and the ideological mentor of the Reagan and Thatcher "revolutions."
"The achievement of The Fatal Conceit is that it freshly shows why socialism must be refuted rather than merely dismissed—then refutes it again."—David R. Henderson, Fortune.
"Fascinating. . . . The energy and precision with which Mr. Hayek sweeps away his opposition is impressive."—Edward H. Crane, Wall Street Journal
F. A. Hayek is considered a pioneer in monetary theory, the preeminent proponent of the libertarian philosophy, and the ideological mentor of the Reagan and Thatcher "revolutions."
About the Author
F. A. Hayek (1899-1992), recipient of the Medal of Freedom in 1991 and co-winner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and a leading proponent of classical liberalism in the twentieth century. He taught at the University of London, the University of Chicago, and the University of Freiburg.
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Most helpful customer reviews
1 of 1 people found the following review helpful:
4.0 out of 5 stars
To Christopher Wright aka "Redtwister",
By RushFanForLife (Halifax) - See all my reviews
This review is from: The Fatal Conceit: The Errors of Socialism (Paperback)
You write : "Capital and its supporters have been responsible for NEARLY EVERY war in the 20th century"
This sentence alone identifies you as a historically illiterate, gibbering fool who should have his crayons taken away. Especially his red ones.
2 of 2 people found the following review helpful:
5.0 out of 5 stars
A great introduction to a great thinker,
By
This review is from: The Fatal Conceit: The Errors of Socialism (Paperback)
Hayek was arguably the major intellectual force of the 20th century. This is a great way to get into his writing. Hayek was in the tradition of von Mises, Menger and Cannan - a scholar of immense proportions - prodigious in his mastery of knowledge but quite unassuming about his ultimate knowledge. This is focussed on a particular set of issues. Its points are well stated - i.e. THE fundamental error of socialism is that any person or group of persons can understand the complexities of human interaction and thereby control it. Once conquered you might like to move on to either the Constitution of Liberty or one of his other great works. Hayek is also accessible on many places in the web. His speech to the London Economic Club and one on the Uses of Knowledge in Society are excellent.
5 of 7 people found the following review helpful:
4.0 out of 5 stars
Why Socialism Fails,
By Steve Jackson "stevejackson100atyahoocom" (New England) - See all my reviews
This review is from: The Fatal Conceit: The Errors of Socialism (Paperback)
Friedrich von Hayek (1899-1992) was one of the twentieth century's seminal thinkers. He was an economist in the Austrian tradition and studied under Ludwig von Mises. (Although he is often grouped with von Mises, he was not the consistent libertarian that von Mises was.) THE FATAL CONCEIT was Hayek's final work, and was put together from a manuscript by the late W. W. Bartley, III (who is named as "editor" of the work.) This book is timely in that it was written at the tail end of the communist age and provided Hayek with an opportunity to reflect on the failure the socialist revolution.As Hayek shows, the central problem with socialism is that it based on the false idea of "constructive rationalism," the belief that man can order society based purely on reason (and therefore planning). However, social progress is based in large part on tradition, or -- as Hayek describes it -- "between instinct and reason." This progress is inherently evolutionary and proceeds by slow steps. As such it integrates all the knowledge that is dispersed in society. The theory presented in this book is a mix of liberalism and conservatism. In many ways it is the application of evolutionary theory to social though. As he daringly says: "morals, including, especially, our institutions of property, freedom and justice, are not a creation of man's reason but a distinct endowment conferred upon him by cultural evolution." This certainly won't endear him to either religious thinkers or Randian libertarians. Hayek proceeds to discuss the benefits of private property, free enterprise and trade from this evolutionary perspective and shows socialized planning is inevitable destructive of social progress. Hayek provides an excellent refutation of the central errors of socialism. The reader might want to compare his approach with that of von Mises in THE ANTI-CAPITALISTIC MENTALITY and PLANNED CHAOS, which covers similar territory from a somewhat different approach.
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