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Hayek Reader

This entry will remain a place holder for my future forays into Hayek country.
While the name Hayek commonly evokes memories of a sultry Latina actress from Veracruz, a distinguished pupil of Ludwig Von Mises, Friedrich Hayek is the subject of this entry. There is however a less than serious discussion of a Hayek-Hayek showdown.

One of Friedrich Hayek's major contributions (via The Road to Serfdom) is that he predicted that a socialist system will lead to totalitarianism. He reasoned that a centrally planned society such as in a socialist country will require a "Central Planning Board" that will eventually have to make decisions and trade-offs in the absence of market data. This structure will lend itself to domination by a strong personality that will use it for his (this appears to be an exclusively male pursuit) pleasure. Evidence: Stalin, Lenin, Mao, Pol Pot

Resources:
Hayek Pages
Economics and Knowledge