New PDF release: Collectivist Economic Planning: Critical Studies

By Friedrick Hayek

ISBN-10: 0678007659

ISBN-13: 9780678007655

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He must be quite well aware that the doctrine of Bastiat, which he has in mind, was not approved of by a single writer of repute among the "bourgeois " economists, but that it has in fact been most energetically contested by many of them. Accurate thinking is by no means one of the principal virtues of the social democrats and thus they are guilty of a certain negligence in the exposition of their system. They are not always clear themselves as to what it permits and what it most rigorously excludes.

3) Both countries ship their products at approximately the same time, so that they meet half-way. In the first case Java furnishes the capital, in the second the Netherlands, while in the third each does its share. From the point of view of mankind in general there is no doubt as to the proper solution of this problem. There are peoples who could take no part whatever in international trade if they had to supply the necessary capital, because they do not possess it. Others might be in a position to put up the capital, but only by withdrawing it from other purposes from which it could not well be spared.

PIERSON (Translated by G. ) A STRIKING and somewhat disquieting characteristic of our time is the fact that so little attention is paid, particularly by the younger generation, to problems of theoretical economics. It is the more striking because, in view of the present enthusiasm for social legislation, just the contrary might have been expected. As long as things are permitted to take their own course and the activity of the State is restricted to the maintenance of order-apart from the provision of education, the execution of public works, and so on-then only scientific interest will provide a stimulus to theoretical economic research.

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Collectivist Economic Planning: Critical Studies by Friedrick Hayek


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