Hayek's Theory of Spontaneous Order and the Normative Development of the Free Market and Common Law.

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Date: July 2019
From: The Journal Jurisprudence(Vol. 39)
Publisher: Elias Clark
Document Type: Article
Length: 6,728 words
Lexile Measure: 1610L

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Abstract :

The work of F.A. Hayek outlining spontaneous order is a frequent element of debates about political economy, but in that context the argument is frequently ideological rather than practical and helpful. Hayek also described the role of spontaneous order in the development of common law, making both descriptive and normative observations about jurisprudence. An exploration of the role of spontaneous order in debates about both political economy and common law highlights the limitations that even Hayek placed on the application of spontaneous order: laws of conduct should develop without legislation or central design, while organizational laws need to be steered more intentionally. Similarly, organizational and structural management of commercial activity may be appropriate even as--and so that--free markets encourage economic growth and prosperity. These connections reframe an important set of debates and clarify critical detail about politics, society, policy, and the underlying theory and philosophy.

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Gale Document Number: GALE|A604678399