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Read an article - examine ExampleHowever, a contradiction in this theory came in the form of Hayek, who believes that it is not a worry of lack of private topographic point, rather the lack of friendship that presents a challenge to fondist economy (Hoppe 143). This paper forget examine the author of Socialism A Property or Knowledge Problem and his line of notion. This is dapple focusing on what ideas he might offer the audience in terms of the concepts of socialist economy, and how it might fall upon them. Hans-Hermann Hoppe chose to discredit Hayek with his theory, saying that it was completely false and ridiculous. In an effort to discredit Hayek and his school of thought, he brings onward arguments to support Misess thesis. Misess thesis advocates for the presence of private property in land and deed factors for there to be proper channels of economic calculation. There being a medium of change in the form of money, it would then be possible to calculate and contriv e comparison of the economic situation. Hoppe makes the presumption that Hayek does not have the right arguments to support his thesis about socialism. Hayek purports that socialism and its ultimate flaw is that knowledge about certain circumstances of place and time exist in widely dispersed form, as the personal possession of various individuals (Hoppe 144). Hoppe may have an inclination toward Misess school of thought. ... The author, Hoppe, criticizes Hayek by enquire a question that would be on the minds of the audience about wherefore clubs, firms, and families exist if his line of thought were to be true. It is Hayeks belief that a decentralized drug abuse of knowledge may lead to the firmness of socialisms ills. In this decentralized use of knowledge, individuals are left to their own devices and can make their ratiocinations (Hoppe 144). To some extent, the above may be true. However, the author tries to explain that when individuals are left to their own decision mak ing abilities, it would be next to impossible to ignore the central plan, as they would not be forced by the normal things in society. He further claims that if the deciding factor or the solution to socialisms problems was a decentralized form of thinking, it would be a daunting task to explain why the problems faced by socialism are different from those faced by any other social order. According to Mises and his followers, this line of thought is beside the point. Hoppe points out that it is not the existence of centralized knowledge, or the lack of the use of decentralized knowledge that brings problems to socialism, rather the absence of property. This ultimately leads to the lack or absence of prices (Hoppe 145). The author claims that Hayek came to overhear what Mises had said, but tried to integrate it into his own thesis. This, according to Hoppe, was an elaborate attempt to create a higher(prenominal) and much better theory or line of thinking with regards to the socialis m theory, which failed miserably. It is clear from the above that agreeing that socialisms central or key problem lies in the lack of knowledge. According to the author, private property is the only channel through which information can be transferred.