Final answer:
The statement is true; according to Thomas Hobbes's social contract theory, people sacrifice individual freedom for societal protection under an absolute monarchy in order to escape the chaos of the state of nature.
Step-by-step explanation:
The statement is true, as according to Thomas Hobbes's viewpoint in his social contract theory, people give up their individual freedom for the protection and safety provided by an organized society. Hobbes's philosophy contends that in the state of nature, life would be 'solitary, poor, nasty, brutish, and short' due to the constant competition and fear among humans. To escape this chaotic existence, individuals enter into a social contract, trading their natural rights for the order and security of a civil society under an absolute monarch. Hobbes favored monarchy because he believed that absolute authority was necessary for effective governance and the prevention of anarchy. This social contract forms the basis of legitimacy for the sovereign's power in a Hobbesian society.