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F. A. Hayek as an ordo-liberal

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  • Kolev, Stefan

Abstract

Friedrich August von Hayek (1899-1992) is undoubtedly one of the most significant liberal thinkers of the past century. Born and raised in Vienna in the tradition of the Austrian School, he held academic positions i.a. in London, Chicago and Freiburg, thus uniting in his vita the four principal centers of neo-liberalism. His intellectual development is of special interest, since he shifts the focus of his research agenda several times, most notably from the field of business cycle research towards the broader field of social philosophy. According to this well-known break in his oeuvre, there is a classical division in secondary literature, splitting him into the two phases: Hayek I (the business cycle theorist) and Hayek II (the social philosopher). The present paper will try to show that this two-fold division is inadequate, or at least incomplete. Instead, a three-fold division seems more appropriate: here, Hayek I would again be the business cycle theorist, but Hayek II is seen as an ordo-liberal philosopher and Hayek III as the evolutionist philosopher. Regarding the time-span of the latter phases, the paper contends that the ordoliberal Hayek is to be seen in the 1930s and 1940s (the time of The Road to Serfdom and the founding of the Mont Pèlerin Society), whereas his evolutionist phase starts in the 1950s and continues to the end of his life.

Suggested Citation

  • Kolev, Stefan, 2010. "F. A. Hayek as an ordo-liberal," HWWI Research Papers 5-11, Hamburg Institute of International Economics (HWWI).
    • Handle: RePEc:zbw:hwwirp:5-11
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    1. repec:ucp:bkecon:9780226320649 is not listed on IDEAS
    2. repec:ucp:bkecon:9780226320625 is not listed on IDEAS
    3. Hayek, F. A., 1997. "Socialism and War," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226320588 edited by Caldwell, Bruce, September.
    4. Friedrich von Hayek, 1975. "A Discussion with Friedrich A. von Hayek," Books, American Enterprise Institute, number 920817, September.
    5. Kolev, Stefan, 2008. "Macht und Wissen als Determinanten: Zur Rolle des Staates in der Wirtschaftspolitik bei Walter Eucken und Friedrich August von Hayek," HWWI Research Papers 5-4, Hamburg Institute of International Economics (HWWI).
    6. Kolev, Stefan, 2009. "Macht und soziale Kohäsion als Determinanten: Zur Rolle des Staates in der Wirtschaftspolitik bei Walter Eucken und Wilhelm Röpke," HWWI Research Papers 5-8, Hamburg Institute of International Economics (HWWI).
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    Cited by:

    1. Kolev, Stefan, 2021. "When liberty presupposes order: F. A. Hayek's learning ordoliberalism," Freiburg Discussion Papers on Constitutional Economics 21/2, Walter Eucken Institut e.V..
    2. Ötsch, Walter & Pühringer, Stephan, 2018. "Markfundamentalismus als Kollektivgedanke: Mises und die Ordoliberalen," Working Paper Series Ök-41, Cusanus Hochschule für Gesellschaftsgestaltung, Institut für Ökonomie.
    3. Fabio Masini, 2012. "Designing the institutions of international liberalism: some contributions from the interwar period," Constitutional Political Economy, Springer, vol. 23(1), pages 45-65, March.
    4. Makovi, Michael, 2016. "The Freedom of the Prices: Hayek's Road to Serfdom Reassessed," MPRA Paper 72071, University Library of Munich, Germany.
    5. Innset, Ola, 2023. "Dual Argument, Double Truth: On the continued importance of the state in neoliberal thought," SocArXiv kyvdm, Center for Open Science.
    6. Ötsch, Walter Otto, 2015. "Die Politische Ökonomie "des" Marktes: Eine Zusammenfassung zur Wirkungsgeschichte von Friedrich A. Hayek," Working Paper Series Ök-10, Cusanus Hochschule für Gesellschaftsgestaltung, Institut für Ökonomie.
    7. Stephan Puehringer, 2016. "Think Tank networks of German neoliberalism. Power structures in economics and economic policies in post-war Germany," ICAE Working Papers 53, Johannes Kepler University, Institute for Comprehensive Analysis of the Economy.
    8. Cai, Meina & Caskey, Gregory W. & Cowen, Nick & Murtazashvili, Ilia & Murtazashvili, Jennifer Brick & Salahodjaev, Raufhon, 2022. "Individualism, economic freedom, and charitable giving," Journal of Economic Behavior & Organization, Elsevier, vol. 200(C), pages 868-884.
    9. Feld, Lars P. & Köhler, Ekkehard A. & Nientiedt, Daniel, 2021. "Ordoliberalism and the social market economy," Freiburg Discussion Papers on Constitutional Economics 21/5, Walter Eucken Institut e.V..
    10. Stefano Figuera & Andrea Pacella, 2021. "La teoria euckeniana della moneta: spunti per una riflessione critica (Eucken's theory of money: ideas for critical reflection)," Moneta e Credito, Economia civile, vol. 74(296), pages 275-299.
    11. Stefan Kolev & Nils Goldschmidt & Jan-Otmar Hesse, 2020. "Debating liberalism: Walter Eucken, F. A. Hayek and the early history of the Mont Pèlerin Society," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 33(4), pages 433-463, December.
    12. Ötsch, Walter & Pühringer, Stephan, 2015. ""Der Markt" und seine Politische Ökonomie: Ordoliberale und 'Österreichische' Konzepte," Working Paper Series Ök-08, Cusanus Hochschule für Gesellschaftsgestaltung, Institut für Ökonomie.
    13. Kolev, Stefan & Goldschmidt, Nils & Hesse, Jan-Otmar, 2014. "Walter Eucken's role in the early history of the Mont Pèlerin Society," Freiburg Discussion Papers on Constitutional Economics 14/02, Walter Eucken Institut e.V..
    14. Beat Weber, 2013. "Ordoliberale Geldreform als Antwort auf die Krise?: Bitcoin und Vollgeld im Vergleich," Vierteljahrshefte zur Wirtschaftsforschung / Quarterly Journal of Economic Research, DIW Berlin, German Institute for Economic Research, vol. 82(4), pages 73-88.
    15. Köhler, Ekkehard & Kolev, Stefan, 2011. "The conjoint quest for a liberal positive program: "Old Chicago", Freiburg and Hayek," HWWI Research Papers 109, Hamburg Institute of International Economics (HWWI).

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