Socialism after Hayek

Theodore A. Burczak
Develops an ethical and economically feasible model of socialism, based on a novel synthesis of Hayekian market process theory, Marxian class theory, and an Aristotelian theory of justice


Socialism after Hayek reinvigorates the socialist quest for class justice by rendering it compatible with the social and economic theories of F. A. Hayek. Theodore A. Burczak advances a new vision of socialism that avoids Hayek's criticisms of centrally planned socialism while adhering to a socialist conception of distributive justice and Marx's notion of freely associated labor. In contrast to the socialist models of John Roemer, Michael Albert, and Robin Hahnel, Burczak envisions a "free market socialism" in which privately owned firms are run democratically by workers, and governments engage in ongoing redistributions of wealth to support human development, yet markets are otherwise unregulated.

Theodore A. Burczak is Associate Professor of Economics at Denison University.

Praise / Awards

  • "An advance well beyond the great 'socialist calculation debate.' Socialism after Hayek is both novel and challenging to contemporary Hayekian scholars. Burczak is the only scholar working in the post-Marxist tradition that thoroughly understands and appreciates the Hayekian critique of socialism. He is on his way to answering many of our long-held objections."
    —Dave Prychitko, Northern Michigan University
  • "One does not have to agree with all of Burczak's arguments to accept that he has developed a bold, creative and challenging response to the powerful Hayekian critique of socialism. Burczak wisely rejects the agoraphobia--literally the fear of markets--of many socialists, and focuses instead on the socialist goal of the abolition of exploitation. If this important book is read by both socialists and Hayekians, then there is a chance that debates on the viability of socialism may avoid some past pitfalls."
    —Geoffrey M. Hodgson, University of Hertfordshire, UK
  • "Theodore A. Burczak's Socialism After Hayek is a thoroughly researched and thoughtful examination not only the ideological debate that framed the twentieth century, but of Hayek's intellectual framework. Burczak hopes for an economic framework that is both humanistic in its approach and humanitarian in its concern while being grounded in good reasons. The book should be on the reading list of every comparative political economists and in particular anyone who wants to take Hayek seriously, including those who would like to push Hayek's classical liberal politics toward the left in the 21st century. Burczak has made an outstanding contribution to the fields of political and economic thought and to Hayek studies in particular."
    —Peter J. Boettke, George Mason University Fairfax
  • "Provocative and expansive. An excellent book that deals in depth with the relevant literature, incorporating it into a new analysis of the question of socialism. Burczak draws on the work of Marx and Hayek and brings together in insightful ways more contemporary work by Ellerman, Sen, Bowles and Gintis, Roemer, and Resnick and Wolff. The scholarship is superior: Burczak integrates the works of Hayek and Marx to develop a new theory of justice and to provide a new way to think through the problems of a socialist economy."
    —Stephen Cullenberg, University of California, Riverside
  • " A brilliant, fair-minded approach to Marx, Hayek, Sen, and Nussbaum yields a needed socialist vision for the 21st century."
    —Stephen Resnick, University of Massachusetts
  • "Burczakian socialism = (Hayek + Nussbaum + Sen + Ackerman + Resnick and Wolff) = Ellerman = legal-economic democracy. Brilliant! Burczak takes Hayek, his critics, and other social theorists and produces the foundations of a legal-economic order in which the concerns of most current thinkers are provided for. It is a deep, sustained, and brilliant achievement."
    —Warren J. Samuels, Professor Emeritus, Michigan State University

  • "A heroic effort to synthesize the disparate ideas of two very different thinkers: Friedrich Hayek and Karl Marx."
    —David Emanuel Andersson, National Sun Yat-sen University

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Product Details

  • 6 x 9.
  • 184pp.
Available for sale worldwide

  • Paper
  • 2006
  • Available
  • 978-0-472-06951-4

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  • $24.95 U.S.

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  • socialism, socialist, Marxian class theory, Aristotle, John Roemer, Michael Albert, Robin Hahnel, free market socialism, redistribution of wealth, Hayek, economic theory, philosophy, government