The Road to Serfdom - Chapter 3, Individualism and Collectivism Summary & Analysis

This Study Guide consists of approximately 25 pages of chapter summaries, quotes, character analysis, themes, and more - everything you need to sharpen your knowledge of The Road to Serfdom.
This section contains 620 words
(approx. 2 pages at 400 words per page)
Buy The Road to Serfdom Study Guide

Chapter 3, Individualism and Collectivism Summary and Analysis

Hayek describes the concept of socialism as a confusion that society has. Society can see socialism as an abstract concept: the ideals of equality and security. However, it can also mean a tangible practice, a method implemented to abolish privatization and distribute the profits of work. By a society implementing socialist methods, the individual entrepreneur is replaced by a planning entity, in a process viewed as the only rapid way to achieve equal distribution. The policy of socialism is that the ends justify the means: some people accepted this and others did not.

This, according to Hayek, is the cause of the confusion regarding the concept of socialism. Directing the means for production so that the resulting output is for "use" requires the use of planning. Planning is also required to achieve an equal distribution...

(read more from the Chapter 3, Individualism and Collectivism Summary)

This section contains 620 words
(approx. 2 pages at 400 words per page)
Buy The Road to Serfdom Study Guide
Copyrights
BookRags
The Road to Serfdom from BookRags. (c)2016 BookRags, Inc. All rights reserved.
Follow Us on Facebook