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Individualism and Economic Order (Paperback)

by FA Hayek (Author)

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Product details

Paperback: 280 pages
Publisher: Chicago University Press; New edition edition (6 Jun 1996)
Language English
ISBN-10: 0226320936
ISBN-13: 978-0226320939
Product Dimensions: 21.2 x 14 x 1.6 cm

Average Customer Review: 5.0 out of 5 stars See all reviews (1 customer review)

Amazon.co.uk Sales Rank: 42,098 in Books (See Bestsellers in Books)
Popular in this category:
#68 in Books > Business, Finance & Law > Economics > Theory & Philosophy

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Product Description

In this collection of writings, Nobel laureate Friedrich A. Hayek discusses topics from moral philosophy and the methods of the social sciences to economic theory as different aspects of the same central issue: free markets versus socialist planned economics. First published in the 1930s and '40s, these essays continue to illuminate the problems faced by developing and formerly socialist countries.

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	58% buy the item featured on this page: Individualism and Economic Order 5.0 out of 5 stars (1) �10.53
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32 of 34 people found the following review helpful:

5.0 out of 5 stars A great book on economics and knowledge, 12 Sep 2002

By	Alan Michael Forrester "jimmythewonderhorse" (Northampton) - See all my reviews (REAL NAME)

This is simply the best book I have ever read abut the relationship between economics and knowledge. It should be read in conjunction with Hayek's book 'the Road to Serfdom' and the work of Karl Popper, in particular 'Conjectures and Refutations', 'the Myth of the Framework', 'The Poverty of Historicism' and 'The Open Society and its Enemies' (both volumes).

The point Hayek makes is that free societies and free markets give rise to a spontaneous, extended order that arranges the world far better than any amount of government planning ever could, since a government is composed of people who do not grasp more than a tiny fraction of all the knowledge that is out there in the world and so cannot use this knowledge. Hayek is rather conservative, possibly because radicalism at that time was giving birth to totalitarian monsters like the USSR and Nazi Germany, but I think the ideas in this volume have deep implications for what sort of political institutions are best.

See David Friedman's book 'The Machinery of Freedom' for the best account of the political institutions that should be adopted in my opinion.

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