The Market and Other Orders  book cover
1st Edition

The Market and Other Orders

Edited By

Bruce Caldwell

ISBN 9780367669508
Published September 30, 2020 by Routledge
468 Pages

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Book Description

In addition to his groundbreaking contributions to pure economic theory, F. A. Hayek also closely examined the ways in which the knowledge of many individual market participants could culminate in an overall order of economic activity. His attempts to come to terms with the "knowledge problem" thread through his career and comprise the writings collected in the fifteenth volume of  Routledge's Collected Works of F. A. Hayek series.

The Market and Other Orders brings together more than twenty works spanning almost forty years that consider this question. Consisting of speeches, essays, and lectures, including Hayek's 1974 Nobel lecture, "The Pretense of Knowledge," the works in this volume draw on a broad range of perspectives, including the philosophy of science, the physiology of the brain, legal theory, and political philosophy. Taking readers from Hayek's early development of the idea of spontaneous order in economics through his integration of this insight into political theory and other disciplines, the book culminates with Hayek's integration of his work on these topics into an overarching social theory that accounts for spontaneous order in the variety of complex systems that Hayek studied throughout his career.

Edited by renowned Hayek scholar Bruce Caldwell, who also contributes a masterly introduction that provides biographical and historical context, The Market and Other Orders forms the definitive compilation of Hayek's work on spontaneous order.

Table of Contents

Editorial Foreword



Prologue: Kinds of Rationalism (1965)

Part I. The Early Ideas

One Economics and Knowledge (1937)

Two The Facts of the Social Sciences (1943)

Three The Use of Knowledge in Society (1945)

Four The Meaning of Competition (1948)

Part II. From Chicago to Freiburg: Further Development

Five The Political Ideal of the Rule of Law (1955)

Lecture I. Freedom and the Rule of Law: A Historical Survey

Lecture II. Liberalism and Administration: The Rechtsstaat

Lecture III. The Safeguards of Individual Liberty

Lecture IV. The Decline of the Rule of Law

Six Degrees of Explanation (1955)

Seven The Economy, Science and Politics (1963)

Eight Rules, Perception and Intelligibility (1962)

Part III. A General Theory of Orders, with Applications

Nine The Theory of Complex Phenomena (1964)

Ten Notes on the Evolution of Systems of Rules of Conduct (1967)

Eleven The Results of Human Action but Not of Human Design (1967)

Twelve Competition as a Discovery Procedure (1968)

Thirteen The Primacy of the Abstract (1969)

Appendix: The Primacy of Abstract-Discussion

Fourteen The Errors of Constructivism (1970)

Fifteen Nature vs. Nurture Once Again (1971)

Sixteen The Pretence of Knowledge (1975)

Appendix A New Look at Economic Theory-Four Lectures Given at the University of Virginia, 1961

Lecture I. The Object of Economic Theory

Lecture II. The Economic Calculus

Lecture III. Economics and Technology

Lecture IV. The Communication Function of the Market

Appendix B Economists and Philosophers-Walgreen Lecture, University of Chicago, 1963


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F. A. Hayek (1899-1992), recipient of the Presidential Medal of Freedom in 1991 and cowinner of the Nobel Memorial Prize in Economics in 1974, was a pioneer in monetary theory and a leading proponent of classical liberalism in the twentieth century. Bruce Caldwell is research professor of economics and the director of the Center for the History of Political Economy at Duke University. He is the author or editor of many books, including Hayek's Challenge: An Intellectual Biography of F. A. Hayek, also published by the University of Chicago Press.