Hayek was one of the leading academic critics of collectivism in the 20th century. Hayek argued that all forms of collectivism (even those theoretically based on voluntary co-operation) could only be maintained by a central authority of some kind. In Hayek's view, the central role of the state should be to maintain the rule of law, with as little arbitrary intervention as possible. In his popular book, The Road to Serfdom (1944) and in subsequent academic works, Hayek argued that socialism required central economic planning and that such planning in turn leads towards totalitarianism. COUNT 5
QSN1 What was the name of the ideology Hayek criticized? ANS1 collectivism QSN2 How did Hayek believe collectivism could be maintained? ANS2 a central authority QSN3 According to Hayek, what is necessary for the implementation of a socialist economy? ANS3 central economic planning QSN4 Hayek believed the requirements for a socialist economy would lead to what? ANS4 totalitarianism QSN5 What did Hayek believe was the core responsibility of the state? ANS5 maintain the rule of law