by F. A. Hayek
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Product Description
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."
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Average Customer Review:
1 of 2 people found the following review helpful:
 The best refutation of socialism that I've yet read, 2008-03-04
Hayek argues brilliantly that primitive man was never free in the classical liberal sense of the term (and not even in the anarchist sense), but always collectivist (tribal). He could not have survived otherwise. He goes on to argue that man had developed instincts that facilitated the successful coordination of small groups. We see it today in extended families, characteristics that we know as altruism and group solidarity. However, modern civilization is not a tribal organization that can survive on these instinctual drives. Hayek used the term "the extended order of human cooperation" to distinguish man's modern civilization from his primitive existence in the tribal setting.
Hayek emphasizes that what truly differentiates man from animals is not our biology, but our traditions. We became man late in the game, not primarily through biological evolution, but through cultural evolution. The selection of traditions enabled the advancement of some groups over others allowing for their expansion. On this evolutionary process Hayek wrote: "We did not select these traditions; rather, they selected us."
Socialists are generally hostile to traditions in favor of embracing their instinctual drives toward altruism and group solidarity. But these qualities cannot sustain the extended order of human cooperation that developed, and is maintained, through the market process, itself protected by our adherence to the traditions of private property, trade, honesty, contract, saving, and rule of law.
7 of 8 people found the following review helpful:
Politicians should read this book, 2007-12-18
I first read The Fatal Conceit back in 1991, after reading Hayek's The Road to Serfdom. I reread the book in 2007 while commuting back and forth to California's state capital in my capacity as a state assemblyman. Needless to say, the book's profound critique of socialism means much more to me now as a 45-year-old lawmaker and front row eyewitness to daily attempts to incrementally enact socialism in the Golden State.
The Fatal Conceit's title captures the essence of the socialist/progressive/liberal impulse, born of a feeling of moral and intellectual superiority, to bring order to the free market, and in so ordering, destroy the very thing (capitalism), that allows modern civilization. Hayek writes of socialism in the introduction entitled "Was Socialism a Mistake?":
"...The dispute between the market order and socialism is no less than a matter of survival. To follow socialist morality would destroy much of present humankind and impoverish much of the rest.
"All of this raises an important point about which I wish to be explicit from the outset. Although I attack the presumption of reason on the part of socialists, my argument is in no way directed against reason properly used. By `reason properly used' I mean reason that recognizes its own limitations and, itself taught by reason, faces the implications of the astonishing fact, revealed by economics and biology, that order generated without design can far outstrip plans men consciously contrive..."
What a simple observation of the truth, "...order generated without design can far outstrip plans men consciously contrive..." Capitalism, spontaneously generated through centuries of human interaction, has proven the best way to conduct the economics of mankind. But socialists to try to "improve" upon something that no person invented, and, in so doing, ruin a healthy economy. Hayek admits that capitalism can look bleak to individuals who, through hard luck or laziness, can't make it - but he convincingly argues that helping the poor by enacting socialism out of a moral impulse "...would destroy much of present humankind and impoverish much of the rest."
This brings me to present day California with its burgeoning budget deficit brought on by chronic overspending on social programs twined with a tax regime regarded by The Tax Foundation as the 47th worst business tax climate in America. Very soon this system will collapse. The socialists/progressives/liberals who run the legislature are already proposing more taxes and more social welfare spending. Should California become America's tax dungeon by edging out Rhode Island to claim the worst business climate in the nation, the negative impact on the working class will dwarf all the combined intended good of every social welfare program enacted and yet conceived by the left as the paying jobs of the capitalists flee the state. Gazing at California, Hayek would surely shake his head sadly.
The Fatal Conceit should be required reading for every elected official in America, beginning with California.
Reviewer: Chuck DeVore is a California State Assemblyman, a retired lieutenant colonel in the Army National Guard and the author of "China Attacks."
1 of 4 people found the following review helpful:
A Timeless Classic, 2007-05-25
Frederich August Hayek
"If we wish to preserve a free society, it is essential that we recognize that the desirability of a particular object is not sufficient justification for the use of coercion."
3 of 5 people found the following review helpful:
The Fatal Conceit: The Errors of Socialism, 2007-03-26
To those who have some basic understanding of economics and history Hayek provides one of the greatest apologetic summaries of why market economics work and why socialism does not. To those who profess to love the common man and who suffer with the plight of Africa and other parts of the underdeveloped world there is a lesson to those who will hear it. Proceed with socialism and waste time, money, and lives. Proceed with market economics and with all its cruelties it is kinder by far than socialism. Just look at China, and India verses Russia and Africa.
0 of 7 people found the following review helpful:
excellent service, 2007-02-19
The book came very quickly and was packaged well. Service excellent. Book was in excellent condition, even better than advertised. I appreciate the professional service.
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