Hayek, Friedman, and Buchanan: On Public Life, Chile, and the Relationship between Liberty and Democracy

John Meadowcroft and William Ruger

Review of Political Economy, 2014, vol. 26, issue 3, 358-367

Abstract: This article places recent evidence of Hayek's public defense of the Pinochet regime in the context of the work of the other great twentieth-century classical liberal economists, Milton Friedman and James M. Buchanan. Hayek's view that liberty was only instrumentally valuable is contrasted with Buchanan's account of liberty situated in the notion of the inviolable individual. It is argued that Hayek's theory left him with no basis on which to demarcate the legitimate actions of the state, so that conceivably any government action could be justified on consequentialist grounds. Furthermore, Friedman's account of freedom and discretionary power undermines Hayek's proposal that a transitional dictatorship could pave the way for a genuinely free society. It is contended that Hayek's defense of Pinochet follows from pathologies of his theories of liberty and democracy.

Date: 2014
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DOI: 10.1080/09538259.2014.932066

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