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Sep 15, 2012 · Hayek says, “one of my chief preoccupations for more than 10 years” has been coming to terms with the idea that social justice is a mirage (Hayek 1978b, 57). By social justice, Hayek seems to mean distributive justice, and more specifically what Nozick called end-state principles of distributive justice, which treat justice as a feature of outcomes rather than of procedures.
- Chaos
Stephen Kellert defines chaos theory as “the qualitative...
- Smith, Adam: Moral and Political Philosophy
Adam Smith developed a comprehensive and unusual version of...
- The Rule of Law
On the other hand, it does have something in common with...
- Rawls, John
John Rawls (b. 1921, d. 2002) was an American political...
- Chaos
Oct 13, 2020 · This essay of Hayek’s develops on his earlier lecture/essay “Economics and Knowledge,” and is later complemented by his essays “The Meaning of Competition” and “Competition as a Discovery Procedure.”. Together these essays capture the core of Hayek’s treatment of the systemic discovery, use, and transmission of knowledge.
Hayek's theory of knowledge is his most distinctive contribution both to economics and to social science. Its foundation is “our irremediable ignorance” (Hayek 1982a, p. 13), both as social actors and as social theorists. “The dispersion and imperfection of all knowledge are two of the basic facts from which the social sciences have to ...
- Andrew Gamble
- 2006
- Early Life and Education
- Notable Accomplishments
- The Bottom Line
Friedrich Hayek was born in Vienna, Austria, on May 8, 1899. He attended the University of Austria where he obtained doctorates in both law and political science in 1921 and 1923, respectively. He also completed postgraduate work at New York University in 1924. Hayek founded the Austrian Institute for Business Cycle Research and served as its direc...
Friedrich Hayek and Gunnar Myrdaleach won the Nobel Prize in Economic Sciences in 1974 "for their pioneering work in the theory of money and economic fluctuations and their penetrating analysis of the interdependence of economic, social, and institutional phenomena."
Hayek is considered a major social theorist and political philosopher of the 20th century. His theory on how changing prices relay information that helps people determine their plans is widely regarded as an important milestone achievement in economics. This theory is what led him to the Nobel Prize.
- Will Kenton
Abstract. This chapter focuses on Hayek's social theory of individualism. It identifies the distinct elements of Hayek's individualism and evaluates the strength of his social theory. Just as Hume's philosophy sought only to caution against rationalist inspired justifications of existing authority or of revolutionary reform, this theory is able ...
Abstract. This book examines the liberal political philosophy and social theory of Friedrich A. Hayek (1899–1991). According to Hayek, liberalism derives from the discovery of a self-generating or spontaneous order in social affairs, an order which makes it possible to utilise the knowledge and skill of all members of society to a much greater extent than would be possible in any order ...
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Hayek's first academic essay was a psychological work titled 'Contributions to the Theory of the Development of Consciousness' (Beiträge zur Theorie der Entwicklung des Bewußtseins) In The Sensory Order: An Inquiry into the Foundations of Theoretical Psychology (1952), Hayek independently developed a "Hebbian learning" model of learning and memory—an idea he first conceived in 1920 prior ...
