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Hayek and Socialism

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  • Bruce Caldwell
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    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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    Bibliographic 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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    Cited by:
    1. Dic Lo & Russell Smyth, 2002. "Towards A Re-Interpretation Of The Economics Of Feasible Socialism," Working Papers, Department of Economics, SOAS, University of London, UK 119, Department of Economics, SOAS, University of London, UK.
    2. Michael Wohlgemuth, 2013. "The Freiburg school and the Hayekian challenge," The Review of Austrian Economics, Springer, Springer, vol. 26(2), pages 149-170, June.
    3. Becchio Giandomenica, 2005. "Economic theory of wiener kreis and mathematische kolloquiun. The complex role of Karl Menger," CESMEP Working Papers, University of Turin 200507, University of Turin.
    4. Thierry Aimar, 2008. "Self-ignorance: Towards an extension of the Austrian paradigm," The Review of Austrian Economics, Springer, Springer, vol. 21(1), pages 23-43, March.
    5. Fiori Stefano, 2005. "The emergence of instructions : some open problems in Hayek's theory," CESMEP Working Papers, University of Turin 200504, University of Turin.
    6. Stefano Fiori, 2006. "The emergence of institutions in Hayek’s theory: two views or one?," Constitutional Political Economy, Springer, Springer, vol. 17(1), pages 49-61, 03.
    7. Zafirovski, Milan, 1999. "A socio-economic approach to market transactions," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, Elsevier, vol. 28(3), pages 309-334.
    8. Becchio Giandomenica, 2005. "Two heterodox economists: Neurath and Karl Polanyi," CESMEP Working Papers, University of Turin 200511, University of Turin.
    9. Pierre Garrouste, 2008. "The Austrian roots of the economics of institutions," The Review of Austrian Economics, Springer, Springer, vol. 21(4), pages 251-269, December.
    10. Zafirovski, Milan, 2002. "Reconsidering equilibrium: a socio-economic perspective," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, Elsevier, vol. 31(5), pages 559-579.
    11. Daniel Finn, 2003. "The moral ecology of markets: on the failure of the amoral defense of markets," Review of Social Economy, Taylor & Francis Journals, Taylor & Francis Journals, vol. 61(2), pages 135-162.
    12. Mark Nolan, 2013. "Hayek’s 1945 Finlay Memorial Lecture: Tracing the origins and evolution of his ‘true’ individualism," The Review of Austrian Economics, Springer, Springer, vol. 26(1), pages 53-71, March.
    13. 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.
    14. Richard Seymour, 2006. "Hermeneutic phenomenology and international entrepreneurship research," Journal of International Entrepreneurship, Springer, Springer, vol. 4(4), pages 137-155, December.
    15. Juan Carlos de Pablo, 2004. "La economía como proceso decisorio. Reseña de ideas ajenas," CEMA Working Papers: Serie Documentos de Trabajo., Universidad del CEMA 263, Universidad del CEMA.
    16. David.W Versailles, 1999. "Évolution, individualisme et auto-organisation chez Hayek," Cahiers d'Économie Politique, Programme National Persée, Programme National Persée, vol. 35(1), pages 63-88.
    17. Yahya Madra & Fikret Adaman, 2013. "Neoliberal reason and its forms:Depoliticization through economization," Working Papers, Bogazici University, Department of Economics 2013/07, Bogazici University, Department of Economics.
    18. Gary Scott, 2000. "Equal Educational Opportunity and the Significance of Circumstantial Knowledge," Education Economics, Taylor & Francis Journals, Taylor & Francis Journals, vol. 8(3), pages 197-208.
    19. Farrant, Andrew & McPhail, Edward, 2009. "Hayek, Samuelson, and the logic of the mixed economy?," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 69(1), pages 5-16, January.
    20. Giandomenica Becchio, 2008. "The complex role of Karl Menger in the Viennese economic theory," The Review of Austrian Economics, Springer, Springer, vol. 21(1), pages 61-79, March.
    21. Stringham, Edward Peter & Zywicki, Todd J., 2011. "Hayekian anarchism," Journal of Economic Behavior & Organization, Elsevier, Elsevier, vol. 78(3), pages 290-301, May.
    22. Sandye Gloria-Palermo, 2002. "Continuité dans la pensée hayekienne. Une résistance planifiée contre l'interventionnisme," Recherches économiques de Louvain, De Boeck Université, De Boeck Université, vol. 68(3), pages 313-333.
    23. Stavros Ioannides, 2000. "Austrian Economics, Socialism and Impure Forms of Economic Organisation," Review of Political Economy, Taylor & Francis Journals, Taylor & Francis Journals, vol. 12(1), pages 45-71.

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