Hayek’s Economic IdeologyAbstract:A proponent of free-market liberalism, Friedrich A. Hayek made fundamental contributions in political theory, psychology, and economics. His significant intellectual contribution to a number of scholarly disciplines was mainly grounded in his critique of socialist economics. And Hayek's critique of socialism was grounded in his scientific understanding of economics. Many of his contributions are so remarkable that people still read them more than fifty years after they were written. Spontaneous order, also known as self-organization, is one of his major conceptual contributions. It is in fact the spontaneous emergence of order out of seeming chaos from a combination of selfinterested individuals who are not intentionally trying to create order through planning. Hayek is well known for his use of the concept of spontaneous order to praise the market, reject socialism, and argue that moral traditions are the products of evolution

Cosma Sorinel

Ovidius University Annals, Economic Sciences Series, 2013, vol. XIII, issue 2, 289-293

Date: 2013
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