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Alienation and rationality—The retreat of postwar socialism

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  • Petrik Runst
  • Steven Horwitz

Abstract

Postwar socialist thought, such as the Frankfurt School, retreated from the Social Sciences due to its theoretical and empirical failures, as well as the discovery of Marx’ Paris Manuscripts. It shifted its emphasis away from exploitation. Instead, it dealt with human alienation in a prosperous world and other more philosophical concerns, such as the nature of rationality. We show that the Frankfurt School is not unique in dealing with these topics. The writings of F.A. Hayek, and, to a lesser extent, James Buchanan, focus on surprisingly similar observations but arrive at different conclusions. We also argue that the modern version of socialism is flawed. Copyright Springer Science+Business Media New York 2015

Suggested Citation

  • Petrik Runst & Steven Horwitz, 2015. "Alienation and rationality—The retreat of postwar socialism," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 28(2), pages 123-137, June.
    • Handle: RePEc:kap:revaec:v:28:y:2015:i:2:p:123-137
    DOI: 10.1007/s11138-014-0268-6
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    References listed on IDEAS

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    More about this item

    Keywords

    Frankfurt School; Socialist thought; Classical liberalism; B13; B14; P11;
    All these keywords.

    JEL classification:

    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)
    • B14 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Socialist; Marxist
    • P11 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Planning, Coordination, and Reform

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