PAUL SAKMANN’S AND ALBERT SCHATZ’S MANDEVILLE STUDIES: THEIR LINK TO HAYEK’S ‘SPONTANEOUS ORDER’ THEORY

Mark Charles Nolan

Journal of the History of Economic Thought, 2016, vol. 38, issue 4, 485-506

Abstract: This paper agrees with Friedrich August Hayek’s assertion in his 1945 Dublin lecture that the importance of Dutch physician Bernard Mandeville’s role in the history of economics had been overlooked and with his 1966 London lecture’s assertion that Mandeville’s important contribution qualified him as a master mind. Paul Sakmann’s and Albert Schatz’s studies of Mandeville’s eighteenth-century allegorical Fable of the Bees satire were acknowledged by Hayek as having influenced his formulation and development of the theory of spontaneous order extended from Scottish Enlightenment thinkers. Each of these two writers’ contribution to Mandeville and spontaneous order theory is considered as well as proposing a new source for the term “spontaneous order”—Schatz’s 1907 ‘le principe d’ordre spontané.’

Date: 2016
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