Friedrich Hayek was one of the leading economists of the 20th century and the leading contemporary critic of Keynes. He did pioneering work on monetary theory and trade cycles, but achieved international fame through his 1944 critique of totalitarian socialism, The Road to Serfdom. He went on to map out the principles of a free society in a series of books including Law, Legislation and Liberty and became the leading proponent, along with Milton Friedman, of economic and political liberalism.
Setting him in context as well as incorporating criticism since his death 20 years ago, this book explores several major areas of Hayek's thought and
- why society is not something that can be rebuilt any way we want, but is the result of long-term cultural evolution, and what that means for political reform, morality and individual choice - the kind of laws that true freedom relies upon, and how freedom and its benefits are threatened by political confusions - how the market process really from maximising gains for everyone who participates, to competition as a discovery process - where boom and bust cycles come from and how privatising currencies could be the startling solution - how we actually interpret our world, and what this means for social sciences and politics - why socialism was a mistake, capitalism isn't wasteful, and what economic organisation has to do with political destiny - the impossibility of social justice but the genuine hope offered by true economic freedom - what the real foundations of a free society look like.
A breath of intellectual fresh air, this concise guide to Friedrich Hayek is a must for any reader or student interested in one of the most vital minds of the 20th century.
และก็เป็นไปตามที่ฮาเย็กและนักเศรษฐศาสตร์ที่สมาทานแนวคิดตลาดเสรีได้ทำนายไว้ ว่าถึงที่สุดแล้วระบบทุนนิยมและตลาดเสรีนี่แหละที่จะอยู่รอดและชนะแนวคิดแบบ Central Planning ของประเทศคอมมิวนิสต์ได้
A good, no-nonsense introduction to Hayek. His economic and social theories are presented in a concise and precise way. A must read for anyone interested in the life and work of one of the greatest 20th century economists.
Clear, understandable outline of Hayek's thought, with brief summaries of objections to his various points, and his likely response. Excellent introduction, I feel like I'm ready to dive into reading Hayek's work directly now.
This book does a nice job of giving a synopsis of Hayek’s thought in a very concise, accessible little package. Which is of considerable value as this great mind was so broad and so productive for so long. Many have read The Road to Serfdom, certainly an excellent and important book, written by a Viennese Jew with Hitler on one side and Stalin on the other. He had a very pressing message to convey against state economic control, which is state ownership of the people. When I read it long ago he finally made me understand why private property is grouped as a primary natural right with life and liberty. If any one of the three goes, the others go.
But Serfdom’s matter was too pressing and its intended audience too limitless for Hayek in it to get into the business cycle or the incredible unplanned, unmanaged mass of real-time information contained in prices, or to get into free markets in general and various specifics responsible for centrally planned economies’ inability to come close in performance. Probably Hayek’s second most read book is The Constitution of Liberty, also excellent, and Maggie Thatcher’s secular Bible.
Considered by many his most important work, Constitution of Liberty tries in some detail, appropriately and counter to late modern trends toward the opposite, to define freedom in particular, also some other commonly used and associated terms. And, importantly, Hayek sees it as necessary for the definition to be demonstrated and clarified by description of specifics of freedom in operation in a free society, in its popular sovereignty, in its laws and their application, in its economy, and in its rule of law. Hayek dwells appropriately on the relationship of law and freedom. And of particular interest, also perhaps the most difficult for him and the most controversial, at least among libertarians, he goes into how the modern welfare state and freedom can substantially accommodate one another.
Beyond these two books there’s much more to Hayek’s writing, work and life, and there’s much writing of great value but it’s far less read or known than Serfdom or Constitution. Butler combines it all in a logical structure of ten chapters in one hundred forty 5.5” x 8.5” pages. Law, Legislation and Liberty and some others have long been on my reading list. Thanks to Butler I have a bit better handle on them now, I understand better how they fit into Hayek’s entire body of work, and I’m probably now more likely to get around to reading them.