The Political Economy of a Free People

Peter J. Boettke
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Peter J. Boettke: George Mason University

Chapter 8 in F. A. Hayek, 2018, pp 197-226 from Palgrave Macmillan

Abstract: Abstract Hayek spent much of his intellectual life trying to identify the institutional foundations of a society of free individuals. In doing so, he ended up investigating topics beyond the scope of economics proper and entered into the realm of legal and political theory. During this time, he came to realize that a society that optimizes both on the degree of social order and that of recourse to violence must rely on the rule of law as its fundamental principle: equality before the law; stable and universal rules of conduct; and freedom to pursue one’s ends within the boundaries of the law. In devising public policy, the government of a free society must take these principles as its guiding principles.

Date: 2018
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DOI: 10.1057/978-1-137-41160-0_8

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