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The Fatal Conceit: The Errors of Socialism (The Collected Works of F. A. Hayek) by F. A. Hayek
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The Fatal Conceit: The Errors of Socialism (The Collected Works of F. A.…

by F. A. Hayek

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The central themes of this book are those of cultural evolution and the inability of centralized economies to make economic calculations without a price system to harness diffuse knowledge.

It is the revelation that culture, including morals, institutions and such, is neither designed by human minds nor a result of inborn instinct but an evolved system that does not admit of simple explanations that is humbling.

When this is understood it becomes clear that a rationalist approach to analyzing tradition is unlikely to be fruitful.

Hayek's essay, [Why I am not a Conservative] might add to an analysis of these thoughts since Hayek here seems to present a very powerful conservative thesis.

Hayek's remarks early in the book about the possibility that Darwin might have been inspired by evolutionary ideas in the social sciences seems a bit overblown, particularly when it is well known that Darwin himself claimed that it was a book about gradualism as a shaping force in geology that he took with him on his sea voyage aboard the Beagle which led him to think along that line. Nevertheless it is true that various evolutionary explanations were in the air during his youth, including from economists but also from naturalists in his own ancestry.

I am one of those who think it is very odd that as someone once said, it seems that the left and right are mostly divided between those who disbelieve in spontaneous order and evolutionary feedback regarding the market but very accepting of it in biology on one hand and those on the other side who accept spontaneous order in economics but don't credit it in regard to the world of living things. ( )
  gbanville | Jan 8, 2007 |
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Criticisms of socialism

The Fatal Conceit

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Amazon.com Product Description (ISBN 0226320669, Paperback)

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."

(retrieved from Amazon Fri, 24 Apr 2009 07:57:57 -0400)

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