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Hayek on the Market

Talking Politics: HISTORY OF IDEAS

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Hayek's Argument for Technological Determinism

By 1944, modern societies required enormous amounts of industrial organization to engineer mass industrial production. How can something so vast and complex not require political control? That was the technological determinism that Hayek feared. He thought we're going to need a state on an equivalent scale or the technology will just take us over. And Hayek thought that that argument was nonsense because technology doesn't determine anything. So you can control a mass industrial society using technology. You can't control ultimately an economy and economic outcomes, because that's a futile endeavor. But you can use the coercive powers of the state, enhanced by technological instruments to try and get people to do what you want them to do.

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