Hayek’s argument in The Fatal Conceit was historical and factual. Classical socialism defined as government ownership of the means of economic production literally cannot deliver the goods (and services) because the division of knowledge renders central economic control highly inefficient. He maintained a scientific view of his calling to the end. His goal was in largest part to put forward factual understandings of the world—of the way the world is and could be.
KeywordsClassical Socialism Great Equality Government Ownership Minimum Class Democratic Capitalist
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- 237-8.“In 1936 … succinctly.” Martin J. Anderson (ed.), The Unfinished Agenda (London: Institute of Economic Affairs, 1986), 143–44.Google Scholar