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'Socialism works for the vast majority of people'. NO...
Posted on: May 8, 2025 at 11:41:14 CT
JeffB MU
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F.A. Hayek, a nobel laureate economist wrote a great book on the topic.
https://www.econlib.org/library/Enc/bios/Hayek.html
In 1944 Hayek also attacked socialism from a very different angle. From his vantage point in Austria, Hayek had observed Germany very closely in the 1920s and early 1930s. After he moved to Britain, he noticed that many British socialists were advocating some of the same policies for government control of people’s lives that he had seen advocated in Germany in the 1920s. He had also seen that the Nazis really were National Socialists; that is, they were nationalists and socialists. So Hayek wrote The Road to Serfdom to warn his fellow British citizens of the dangers of socialism. His basic argument was that government control of our economic lives amounts to totalitarianism. “Economic control is not merely control of a sector of human life which can be separated from the rest,” he wrote, “it is the control of the means for all our ends.”
To the surprise of some, John Maynard Keynes praised the book highly. On the book’s cover, Keynes is quoted as saying: “In my opinion it is a grand book…. Morally and philosophically I find myself in agreement with virtually the whole of it; and not only in agreement with it, but in deeply moved agreement.”
Although Hayek had intended The Road to Serfdom only for a British audience, it also sold well in the United States. Indeed, Reader’s Digest condensed it. With that book Hayek established himself as the world’s leading classical liberal;
The Road to Serfdom
03/01/1944 • Friedrich A. Hayek
https://mises.org/library/book/road-serfdom
The Intellectuals and Socialism (14 pages)
By F.A. Hayek
https://cdn.mises.org/Intellectuals%20and%20Socialism_4.pdf
https://www.econlib.org/library/Enc/bios/Hayek.html
In 1944 Hayek also attacked socialism from a very different angle. From his vantage point in Austria, Hayek had observed Germany very closely in the 1920s and early 1930s. After he moved to Britain, he noticed that many British socialists were advocating some of the same policies for government control of people’s lives that he had seen advocated in Germany in the 1920s. He had also seen that the Nazis really were National Socialists; that is, they were nationalists and socialists. So Hayek wrote The Road to Serfdom to warn his fellow British citizens of the dangers of socialism. His basic argument was that government control of our economic lives amounts to totalitarianism. “Economic control is not merely control of a sector of human life which can be separated from the rest,” he wrote, “it is the control of the means for all our ends.”
To the surprise of some, John Maynard Keynes praised the book highly. On the book’s cover, Keynes is quoted as saying: “In my opinion it is a grand book…. Morally and philosophically I find myself in agreement with virtually the whole of it; and not only in agreement with it, but in deeply moved agreement.”
Although Hayek had intended The Road to Serfdom only for a British audience, it also sold well in the United States. Indeed, Reader’s Digest condensed it. With that book Hayek established himself as the world’s leading classical liberal;
The Road to Serfdom
03/01/1944 • Friedrich A. Hayek
https://mises.org/library/book/road-serfdom
The Intellectuals and Socialism (14 pages)
By F.A. Hayek
https://cdn.mises.org/Intellectuals%20and%20Socialism_4.pdf
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'Socialism works for the vast majority of people'. NO... - JeffB MU - 5/8 11:41:14