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The Fatal Conceit: The Errors Of Socialism

The Fatal Conceit: The Errors Of Socialism

Hayek gives the main arguments for the free-market case and presents his manifesto on the "errors of socialism." Hayek argues that socialism has, from its origins, been mistaken on factual, and even on logical, grounds and that its repeated failures in the many different practical applications of socialist ideas that this century has witnessed were the direct outcome of these errors. He labels as the "fatal conceit" the idea that "man is able to shape the world around him according to his wishes."

"The achievement of The Fatal Conceit is that it freshly shows why socialism must be refuted rather than merely dismissed—then refutes it again."—David R. Henderson, Fortune.

"Fascinating. . . . The energy and precision with which Mr. Hayek sweeps away his opposition is impressive."—Edward H. Crane, Wall Street Journal

F. A. Hayek is considered a pioneer in monetary theory, the preeminent proponent of the libertarian philosophy, and the ideological mentor of the Reagan and Thatcher "revolutions."
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Liberty Portal is your gateway for free markets and free thinking. We aggregate open-sourced content to promote and popularize important people and lessons within the liberty movement.
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Robert Murphy & Don Boudreaux
Choice: Cooperation, Enterprise, and Human Action
Choice: Cooperation, Enterprise, and Human Action
Human Action—a treatise on laissez-faire capitalism by Ludwig von Mises—is a historically important and classic publication on economics, and yet it can be an intimidating work due to its length and formal style. Choice: Cooperation, Enterprise, and Human Action, however, skillfully relays the main insights from Human Action in a style that will resonate with modern readers. The book assumes no prior knowledge in economics or other fields, and, when necessary, it provides the historical and scholarly context necessary to explain the contribution Mises makes on a particular issue. To faithfully reproduce the material in Human Action, this work mirrors its basic structure, providing readers with an enjoyable and educational introduction to the life’s work of one of history’s most important economists.
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Nassim Nicholas Taleb
Fooled By Randomness
Fooled By Randomness
If you are not reading Nassim Taleb, you are living under a rock.   This book improves your thinking and includes unique insights on Austrian Economics, John Maynard Keynes, and Milton Friedman.  
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Lew Rockwell
Against the State: An Anarcho-Capitalist Manifesto
Against the State: An Anarcho-Capitalist Manifesto

Against the State: An Anarcho-Capitalist Manifesto diagnoses what is wrong with the American political system and tells us what we need to fix things. The cure is a radical one because, as the book incontrovertibly shows, the many problems that confront us today are no accident. They stem from the nature of government itself. Only peaceful cooperation based on the free market can rescue us from our present plight.


Against the State is written by Lew Rockwell, the founder of the Mises Institute and LewRockwell.com, and the closest friend and associate of Murray Rothbard, the leading theorist of anarcho-capitalism. Rockwell applies Rothbard’s combination of individualist anarchism and Austrian economics to contemporary America. The book shows how the government is based on war, both against foreign nations and against the American people themselves, through massive invasions of our liberties. Fueled by an out-of-control banking system, the American State has become in essence fascist. We cannot escape our predicament through limited government: the government is incapable of controlling itself. Only a purely private social order can save us, and Rockwell succinctly sets out how an anarcho-capitalist order would work.

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