Individualism and Economic Order
12 hrs. 47 min.
Description
The book “Individualism and Economic Order” (Individualism and Economic Order [1948]) is compiled from economic and political-philosophical works by one of the greatest thinkers of the 20th century, the outstanding economist and Nobel Prize laureate F. A. Hayek. Written in the 1930s–1940s, they became classics and, to a large extent, shaped the development of modern economic and social theory. The collection’s title is connected with one of the key themes of Hayek’s work: why some versions of philosophical individualism are incompatible with the ideals of a free society—paving the way for totalitarianism. The book presents famous articles on socialist planning, in which the theoretical inadequacy of various models of socialism is exposed—from “classical” K. Marx to the “market” O. Lange—as well as an analysis of the market as an information system capable of coordinating dispersed knowledge among millions of people who do not know one another.
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