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."
©1988 F.A. Hayak (P)2012 Audible, Inc.
‘The Fatal Conceit’ is not what you’d call a light read, but worth the effort if you can keep up your concentration. Hayek will always command historical interest, having been such a philosophical influence on Thatcher. As an economist of distinctly capitalist bent, he here puts the theoretical boot into socialism. You’ll either find it a compelling case or a tirade; but it rehearses the respective arguments tidily, whatever your perspective. My only reservation is that the book sounded rather like an essay, and would guess that the original print version contains references to back up the many assumptions.
Narrator Everett Sherman does a nice job, with a calm, mature voice that fits the content well, and a leisurely pace that gives you time to take in the sometimes complex arguments. Be aware that there are a few re-recorded passages that have been spliced in rather obviously.
In many respects, Hayek is on the same ground here as Ayn Rand’s ‘Atlas Shrugged’, albeit with an academic rather than a fictional orientation. Given a choice, my opinion would be that, in terms of brevity, precision and humanity, it has to be Hayek.
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