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The Market and Other Orders

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 the University of Chicago Press’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.

472 pages | 1 halftone, 15 line drawings | 6 x 9 | © 2013

The Collected Works of F. A. Hayek

Economics and Business: Economics--General Theory and Principles


“Hayek scholars will be grateful for this collection that shows how his seemingly disparate work in economics, methodology, psychology, and legal theory is actually part of an integrated whole, unified by the idea of spontaneous order. Brilliantly selected, well-organized, and concisely explained, this is a very strong addition to the Collected Works series.”

Peter Boettke, George Mason University

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


Manhattan Institute for Policy Research: F.A. Hayek Book Prize

Manhattan Institute: Hayek Scholarship Prize

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