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Though it is not completely understood, but it is widely recognised. Robert Hejlbroner, it is finalNot being the friend of capitalism, writes that the recent history "forces us
To rethink significance of a socialism. As semireligious vision The transformed mankind it in 20 century has received crushing blows. In
Quality of the project of reasonable planned company it is broken completely ".
pp.
91 - 100, in the Journal of Economic Literature, "Reflections After Communism", esp. p. 98. The expanded variant of the article has the name "Analysis and
Vision in Modern Economic Thought ", 1990, vol. 28, pp. 1097 - 1114, The New Yorker, September 10, September 1990
It not too would amaze F.A.Hayek. Being the economist of "Austrian" school,
Hayek always understood the market not absolutely how its contemporaries, including
Otherwise, than many defenders of capitalism. On an extent it parts of it
Centuries "an economy problem" saw in a problem of distribution of resources, that is in
Such distribution of productive resources which would allow To satisfy competing and potentially unlimited demand - basically The extraneous observer (or - the central scheduler) quite can
To calculate the decision of this problem. On the contrary, for Hayek and the Austrian school in
Whole the economic theory has before itself a problem of coordination of plans,
As "very difficult order" human cooperation arises from
Plans and decisions of the isolated individuals which act in the world of the hidden
And isolated knowledge. The explanation enters into problems of an economic science
Laws of the phenomena similar to the prices and production, money, percentage
To rates, fluctuations of activity and even the right and language, when these phenomena
Are not a part of someone's conscious plan. Only studying the social From this point of view we can learn an order, why the markets work and why Efforts on creation of non-market company are doomed to a failure.
Hayek belongs to the fourth generation of the Austrian school economic
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