Karl Mittermaier and the hands of classical liberalism

Daniel B Klein

Economic Affairs, 2020, vol. 40, issue 2, 209-219

Abstract: Karl Mittermaier (1938–2016) completed a work in 1987 titled The Hand Behind the Invisible Hand: Dogmatic and Pragmatic Views on Free Markets and the State of Economic Theory, published for the first time in 2020. Here I treat Mittermaier's rich meditation, which I interpret as a pursuit of greater coherence in classical liberal thought. Mittermaier emphasises the moral, cultural, and institutional preconditions of a liberal market order, and argues that some of the preconditions depend on people feeling that they have reason to embrace such classical liberal principles. The preconditions, then, depend in part on the perception of coherence and appeal of the liberal order.

Date: 2020
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