The Fatal Conceit: The Errors of Socialism

Paperback | October 4, 1991

byF. A. HayekEditorW. W. Bartley, III

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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."

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From Our Editors

Adopting an economic and evolutionary approach throughout, Hayak examines the nature, origin, selection and development of the differing moralities of socialism and the market order; he recounts the extraordinary powers that 'the extended order' of the market, as he calls it, bestows on mankind, constituting and enabling the developmen...

From the Publisher

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 w...

From the Jacket

Adopting an economic and evolutionary approach throughout, Hayak examines the nature, origin, selection and development of the differing moralities of socialism and the market order; he recounts the extraordinary powers that 'the extended order' of the market, as he calls it, bestows on mankind, constituting and enabling the developmen...

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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Format:PaperbackDimensions:194 pages, 9 × 6 × 0.8 inPublished:October 4, 1991Publisher:University Of Chicago Press

The following ISBNs are associated with this title:

ISBN - 10:0226320669

ISBN - 13:9780226320663

Customer Reviews of The Fatal Conceit: The Errors of Socialism

Reviews

Rated 4 out of 5 by from Thoughtful, logical critique of Socialism This book gets deep into the ideology of capitalism and socialism. The content is very heavy so the reader really needs to have an interest in the subject. Hayek's main thesis - that socialism is fundamentally flawed because it presumes central control over all aspects of the economy is possible - is fascinating. He says market forces evolved just as humans evolved, and that to say markets can be controlled centrally under socialism is akin to saying humans can somehow control our own evolution. No matter your political stripes, you will find Hayek's arguments logical and indeed convincing.
Date published: 2014-08-11

Extra Content

Table of Contents

Editorial Foreword
Preface
Introduction: Was Socialism a Mistake?
1. Between Instinct and Reason
2. The Origins of Liberty, Property and Justice
3. The Evolution of the Market: Trade and Civilisation
4. The Revolt of Instinct and Reason
5. The Fatal Conceit
6. The Mysterious World of Trade and Money
7. Our Poisoned Language
8. The Extended Order and Population Growth
9. Religion and the Guardians of Tradition
Appendices
Editor's Acknowledgements
Bibliography
Name Index
Subject Index

From Our Editors

Adopting an economic and evolutionary approach throughout, Hayak examines the nature, origin, selection and development of the differing moralities of socialism and the market order; he recounts the extraordinary powers that 'the extended order' of the market, as he calls it, bestows on mankind, constituting and enabling the development of civilization.