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Hayek and Socialism

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Author Info
Bruce Caldwell
Abstract

Friedrich A. Hayek was a life-long opponent of socialism. Three of his contributions are surveyed and placed within historical context: his debates in the 1930s with the market socialists, his political critique of socialism in The Road to Serfdom, and his evolutionary arguments against "rationalist constructivists." Recent discussions that use the economics of information to analyze the prospects for socialism are also reviewed. It is argued that theorists working in the economics of information have not recognized just how far Hayek's conceptualization of the appropriate theoretical constructs for economics deviates from those of mainstream economists. As such they have misunderstood what may constitute an independent set of arguments against socialism.

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Publisher Info
Article provided by American Economic Association in its journal Journal of Economic Literature.

Volume (Year): 35 (1997)
Issue (Month): 4 (December)
Pages: 1856-1890
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Handle: RePEc:aea:jeclit:v:35:y:1997:i:4:p:1856-1890

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  1. Stavros Ioannides, 2000. "Austrian Economics, Socialism and Impure Forms of Economic Organisation," Review of Political Economy, Taylor and Francis Journals, vol. 12(1), pages 45-71, January. [Downloadable!] (restricted)
  2. Zenon X. Zygmont, 2006. "Debating the Socialist Calculation Debate: A Classroom Exercise," Journal of Economic Education, Helen Dwight Reid Foundation, vol. 37(2), pages 229-235. [Downloadable!]
  3. Daniel Finn, 2003. "The moral ecology of markets: on the failure of the amoral defense of markets," Review of Social Economy, Taylor and Francis Journals, vol. 61(2), pages 135-162, June. [Downloadable!] (restricted)
  4. Pierre Garrouste, 2008. "The Austrian roots of the economics of institutions," The Review of Austrian Economics, Springer, vol. 21(4), pages 251-269, December. [Downloadable!] (restricted)
  5. Becchio Giandomenica, 2005. "Economic theory of wiener kreis and mathematische kolloquiun. The complex role of Karl Menger," CESMEP Working Papers 200507, University of Turin. [Downloadable!]
  6. Thierry Aimar, 2008. "Self-ignorance: Towards an extension of the Austrian paradigm," The Review of Austrian Economics, Springer, vol. 21(1), pages 23-43, March. [Downloadable!] (restricted)
  7. Robert Sproule & C?lin Vâlsan, 2009. "The student evaluation of teaching: its failure as a research program, and as an administrative guide," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 11(25), pages 125-150, February. [Downloadable!]
  8. Sandye Gloria-Palermo, 2002. "Continuité dans la pensée hayekienne. Une résistance planifiée contre l'interventionnisme," Recherches économiques de Louvain, De Boeck Université, vol. 68(3), pages 313-333. [Downloadable!]
  9. Bruce Caldwell, 2005. "Information, the Tip of the Tacit Iceberg," Econ Journal Watch, Atlas Economic Research Foundation, vol. 2(1), pages 70-74, April. [Downloadable!]
  10. Becchio Giandomenica, 2005. "Two heterodox economists: Neurath and Karl Polanyi," CESMEP Working Papers 200511, University of Turin. [Downloadable!]
  11. Giandomenica Becchio, 2008. "The complex role of Karl Menger in the Viennese economic theory," The Review of Austrian Economics, Springer, vol. 21(1), pages 61-79, March. [Downloadable!] (restricted)
  12. Fiori Stefano, 2005. "The emergence of instructions : some open problems in Hayek's theory," CESMEP Working Papers 200504, University of Turin. [Downloadable!]
  13. Stefano Fiori, 2006. "The emergence of institutions in Hayek’s theory: two views or one?," Constitutional Political Economy, Springer, vol. 17(1), pages 49-61, 03. [Downloadable!] (restricted)
  14. Gary J. Scott, 2000. "Equal Educational Opportunity and the Significance of Circumstantial Knowledge," Education Economics, Taylor and Francis Journals, vol. 8(3), pages 197-208, December. [Downloadable!] (restricted)
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