THE FATAL CONCEIT. The Errors of Socialism, of F.A. Hayek

This book is very interesting for the people who want to understand how works the capitalist system. For me this book is interesting because of its conclusions, such as:

1. Thus, differences among individuals increase the power of the collaborating group beyond the sum of individual efforts. Synergetic collaboration brings into play distinctive talents that would have been left unused had their possessors been forced to strive alone for sustenance. Specializations releases and encourages the development of a few individuals whose distinctive contributions may suffice to provide them a living or even to exceed the contributions others make to the total.
2. Thus without the rich – without those who accumulated capital -those poor who could exist at all would be very much poorer indeed, scratching a livelihood from marginal lands on which every drought would kill most of the children they would be trying to raise. The creation of capital altered such conditions more than anything else. As the capitalist became able to employ other people for his own purposes, his ability to feed them served both him and them. This ability increased further as some individuals were able to employ others not just directly to satisfy their own needs but to trade goods and services with countless others. Thus property, contract, trade, and the use of capital did not simply benefit a minority.

Залишити відповідь