The Fatal Conceit: The Errors of Socialism


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Originally published: London: Routledge, 1988.

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Jan 5, 2009

Errors of Socialism

Friedrich A Von Hayek, one of the two best-known Austrian economists on record, has written a masterpiece that all Americans should be required to read. Hayek addresses the age-old problems that socialism breeds and promulgates. According to Hayek the true costs of government socialistic programs are carefully hidden. Because these hidden costs can be increased and added to without citizen resistence, eventually the economic infrastructure of the socialistic countries will collapse. Additionally, Hayek writes that the collectivist mentality of allowing government powers to include increasing economic control will lead to the merger of state and corporate power-thus fascism.

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