Hayek’s Market Republicanism: The Limits of Liberty, 1st Edition (e-Book) book cover

Hayek’s Market Republicanism

The Limits of Liberty, 1st Edition

By Sean Irving


170 pages

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Hardback: 9781138390973
pub: 2019-12-04
eBook (VitalSource) : 9780429423024
pub: 2019-11-27
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Friedrich Hayek was the 20th century’s most significant free market theorist. Over the course of his long career he developed an analysis of the danger that state power can pose to individual liberty. In rejecting much of the liberal tradition’s concern for social justice and democratic participation, Hayek would help clear away many intellectual obstacles to the emergence of neoliberalism in the last quarter of the 20th century.

At the core of this book is a new interpretation of Hayek, one that regards him as an exponent of a neo-Roman conception of liberty and interprets his work as a form of ‘market republicanism’. It examines the contemporary context in which Hayek wrote, and places his writing in the long republican intellectual tradition.

Hayek’s Market Republicanism will be of interest to advanced students and researchers across the history of economic thought, the history of political thought, political economy and political philosophy.

Table of Contents


Hayek’s Epistemic Economics

Hayek and Republicanism

The Nature of the Emergency

Intellectual Emergency Equipment and Liberal Authoritarianism

Methodology, Context and Parameters

Chapter One: Government and the Business Cycle

Hayek’s Early Work

The Gold Standard and the Central Banks

The Exchange with Keynes


Chapter Two: The Socialist Calculation Debates

From Economics to Political Economy

Planning vs Freedom

The Limits of Hayekian Epistemic Economics


Chapter Three: Liberalism: True and False

The British/Continental Binary

Mill and Rationalism

Questions of History


Chapter Four: Hayek’s Market Republicanism

Hayek and The Republican Tradition

Hayek and Non-Domination

The Limits of Hayekian Liberty


Chapter Five: The Danger of ‘Unlimited’ Democracy

Unlimited Democracy and the Total State

A Self-Limiting Democracy

Arbitrary Power and Governability


Chapter Six: Inflation and Social Justice

Full Employment and the New Morality

The Politics of Deflation

Social Justice and Market Republicanism


Chapter Seven: A Market Republican Constitution

Origins of the Model Constitution

The Model Constitution

A Constitution of Oligarchy


Chapter Eight: Market Republican Money

The Denationalisation of Money

Reception and Viability of the Scheme



Chapter Nine: Liberal Authoritarianism and Market Republicanism

Isonomia, Demokratia and Demarchy

Endorsing Dictatorship

Dictatorship and the Oligarchic Market Republic



About the Author

Sean Irving has a PhD in history from the University of Manchester, UK.

About the Series

Routledge Frontiers of Political Economy

In recent years, there has been widespread criticism of mainstream economics. This has taken many forms, from methodological critiques of its excessive formalism, to concern about its failure to connect with many of the most pressing social issues. This series provides a forum for research which is developing alternative forms of economic analysis. Reclaiming the traditional 'political economy' title, it refrains from emphasising any single school of thought, but instead attempts to foster greater diversity within economics.

Learn more…

Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Economic History
BUSINESS & ECONOMICS / Economics / General
BUSINESS & ECONOMICS / Economics / Theory
PHILOSOPHY / Political
POLITICAL SCIENCE / History & Theory
POLITICAL SCIENCE / Economic Conditions