- Paperback: 208 pages
- Publisher: Routledge; 3 edition (14 May 1998)
- Language English
- ISBN-10: 0415173159
- ISBN-13: 978-0415173155
- Product Dimensions: 2.2 x 1.4 x 0.2 cm
- Amazon Bestsellers Rank: 1,006,283 in Books (See Top 100 in Books)
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Understanding the intellectual foundations of Hayek's work, can be a minefield of inaccessible terms and confusing statements. Thanks to John Gray, however, these matters are clearly and intelligently explained. The result is that the reader is provided with a rich insight into how Hayek's political economy functions. More than just a critique of socialism, Hayek's thought is also a profound intellectual statement combining the epistemological insights of Hume with Kant's categorical imperative. An understanding of its philosophical basis allows a fertile gaze into the prism that is Hayek's thought. Only Gray explains these aspects of his writngs clearly.
"Hayek on Liberty" is, moreover, refreshingly objective, despite the controversy which Hayek's ideas generate. Gray seeks to explain rather than to refute or praise. The reader can therefore take the insights Gray offers in a number of directions. Although Gray clearly admires Hayek, he does not feel the need to indulge in the monotonous hero-worship to which we have become accustomed. There is much to be found here for Hayek's critics too. Especially since it is doubtful that Hayek's use of Hume does not undermine many of his more positive political statements.
Gray's work is thus an invaluable guide to one of the Twentieth Century's intellectual icons. One only has to observe the saint-like worship Hayek has received in recent months, surrounding the centenery of his birth, to appreciate that his legacy is an ongoing phenomenon of global proportions. Academic, student, and interested observer will find Gray's study immensely helpful as a platform for approaching more general disussions of Hayek's ideas, of which many fine examples now exist. Anyone attempting a detailed appreciation of Hayek should thus keep Gray beside them at all times.
Essentially, Gray reduces Hayek's contribution to that of a critic of socialism. Hayek's assertion that socialized central planning was an "epistemological impossibility," while historically evident, provides an inadequate justification for the 19th century form of capitalism Hayek advocated. The post-communist 21st century must deal with competing capitalisms, not rigid centrally planned economies, and Gray considers Hayek inadequate on this score.
Gray believes that Hayek missed an essential aspect of free market capitalism, that is, the power of progress. Free markets demand change, even change for change's sake, and the metaphor of a "spontaneous social order" arising in some sort of social evolution is not adequate to provide support for the traditional values and institutions for which Hayek had regard. Personal autonomy will always present a danger to social cohesion. In Gray's view, the free market advocated by Hayek prefers the former to the latter.
To Gray this weakness in Hayek's thought is fatal, and I tend to agree.
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