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Psychology, social evolution and liberalism: a Hayekian trinity

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  • G. R. Steele

Abstract

The work of Friedrich Hayek describes an extensive political economy, with explicit consideration of the psychological limits to human understanding, the market as a mechanism of information gathering and social coordination, and the relationship between market processes and the free society, where moral and political issues are relevant within a framework of continuous adaptation. Although the survival characteristics of social institutions largely defy rational enquiry, political liberalism secures the diversity that is necessary for evolutionary social adaptation.

Suggested Citation

  • G. R. Steele, 2005. "Psychology, social evolution and liberalism: a Hayekian trinity," Review of Political Economy, Taylor & Francis Journals, vol. 17(4), pages 571-586.
    • Handle: RePEc:taf:revpoe:v:17:y:2005:i:4:p:571-586
    DOI: 10.1080/09538250500253466
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    References listed on IDEAS

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    1. Hayek, F. A., 2012. "Hayek on Hayek," University of Chicago Press Economics Books, University of Chicago Press, edition 1, number 9780226321202 edited by Kresge, Stephen & Wenar, Leif, September.
    2. Voigt Stefan, 1992. "On The Internal Consistency Of Hayek’S Evolutionary Oriented Constitutional Economics – Some General Remarks," Journal des Economistes et des Etudes Humaines, De Gruyter, vol. 3(4), pages 1-16, December.
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    4. Ulrich Witt, 1997. "The Hayekian Puzzle: Spontaneous Order and the Business Cycle," Scottish Journal of Political Economy, Scottish Economic Society, vol. 44(1), pages 44-58, February.
    5. repec:ucp:bkecon:9780226320625 is not listed on IDEAS
    6. Hayek, F. A., 2011. "The Constitution of Liberty," University of Chicago Press Economics Books, University of Chicago Press, number 9780226315379 edited by Hamowy, Ronald, September.
    7. 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.
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