In his inaugural speech, Mayor Mamdani prophesied, "We will replace the frigidity of rugged individualism with the warmth of collectivism." I criticized earlier his straw man (false) version of individualism, which came from socialists, not capitalists. Today I want to ask if collectivism is always warm?
F.A. Hayek, a Nobel Prize winner and the second greatest economist of the 20th century behind Ludwig von Mises, wrote in his last book, The Fatal Conceit: The Errors of Socialism, that we live in two worlds. One is the family, church, or tribe in which everyone knows everyone else, their needs, weaknesses and strengths. The other is the larger world of the nation in which few people know each other.






