Hayek and the Evolution of Designed Institutions: a Critical Assessment
AbstractWhile Evolutionary Economics has devoted much attention to the attempt to explain the evolution of institutions that emerge spontaneously, the genesis, diffusion and evaluation of consciously designed institutions has largely been neglected. This paper tries to show (i) how an evolutionary approach to this problem could look like and (ii) in what way Friedrich A. v. Hayek's work can contribute to it. Three aspects are identified as playing a key role in this respect: first, Hayek's positive theory of both the legislative and the judicial law-making process; second, his normative theory, centered on the instrumental value of individual freedom for maintaining the epistemic superiority of spontaneous social orders; and third, his concept of democracy, based on a dynamic deliberation (instead of a static aggregation) view on individual preferences. While there are more or less wide gaps in all three original accounts, there are ways to fill them in an arguably "Hayekian" way and to combine the different threads to a conceptual basis for a Hayekian political economy.
Download InfoTo our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
Bibliographic InfoPaper provided by Philipps University Marburg, Department of Geography in its series Papers on Economics and Evolution with number 2004-11.
Length: 23 pages
Date of creation: Jul 2004
Date of revision:
Hayek; demogracy; Cultural Evolution; legal evolution; designed institutions;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-07-26 (All new papers)
- NEP-EVO-2004-07-26 (Evolutionary Economics)
- NEP-HIS-2004-07-26 (Business, Economic & Financial History)
- NEP-HPE-2004-07-26 (History & Philosophy of Economics)
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Berggren, Niclas, 2008.
"Choosing One’s Own Informal Institutions: On Hayek’s Critique of Keynes’s Immoralism,"
Ratio Working Papers, The Ratio Institute
118, The Ratio Institute.
- Niclas Berggren, 2009. "Choosing one’s own informal institutions: on Hayek’s critique of Keynes’s immoralism," Constitutional Political Economy, Springer, Springer, vol. 20(2), pages 139-159, June.
- Gedeon, Péter, 2007.
"Piaci rend és társadalmi normák. Hayek elmélete a társadalmi evolúcióról
[Market order and social norms. Hayeks theory of social evolution]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(1), pages 1-28.
- Niclas Berggren, 2006. "Legal positivism and property rights: a critique of Hayek and Peczenik," Constitutional Political Economy, Springer, Springer, vol. 17(3), pages 217-235, September.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Christoph Mengs).
If references are entirely missing, you can add them using this form.