Constitution of Liberty: The Definitive Edition: 17 (Collected Works of F. A. Hayek)

Very heavy reading, but excellent text.

Great book, highly recommended.

Hayek attempts to explain the origins of a free society. In his other books, Hayek discusses the benefits of a free society. This book digs deep into the question of how; liberty itself evolved into the present state of being. Hayek breaks down the legal structure. He identifies how social customs end up being transformed into laws. These laws were not invented by lawyers or the ruling class, but evolved from various socially accepted practices. This is an important point regarding social management. The best management results from governments adopting into law, what are already generally accepted principles and customs. Conflicts inevitably result, when governments attempt to introduce new rules of conduct, which are alien to the broader society. Hayek then compares the French and English traditions. In England most institutions evolved over centuries, with very little government interference. In France after their revolution, a stronger more proactive government approach was adopted. The French model involved larger governments based on a very strong leader. Hayek then analyzes and contrasts to two systems. The reader will walk away with a much stronger understanding of our; political, historical, and economic foundations. Hayek gives many examples on the importance of liberty, and how liberty enables a society to prosper.

Hayek makes a very thorough and critical analysis of concepts such as democracy, the purpose of law, government, welfare etc. But at the same time he fails to question his own assumumtions on the nature of freedom and coercion (specially the one done by the state), he defines these 2 concepts in a very specific way and follows such definitions in an almost religious way. He is extremely sceptical all non-liberal ideas of government and deconstructs them so much that at times it seems like he's trying to gaslight the reader. It's a pitty because the criticisms he makes are interesting and if he applied the same rigor to examine the implication of liberal economics I think he could have had some great insights.

Hayek's genius is undeniable. He gives a good example of an intellectual who still remembers how little we know. Economists often like to take the birds point of view and in their profession Hayek is clearly one of the high flying ones. His eye even pierces veils that Keynes' or Friedman's did not. (-> monetary matters) His conception is one of negative liberty and economic freedom, which are stated as essential ingredients of human progress and societal stability. The book contains general topics like freedom, determinism, equality - as well as practical matters like the necessary coordination housing or currency (non-)regulation. This book contains more valid thought than quite a few other smart ones taken together.

Hayek is one of the foremost leaders in economic thought in the 20th century. Ever wonder why he won a Nobel prize and J.M.Keynes did not. Here are links to two videos that put the economic policy differences between Keynes and Hayek to rap music (Yes rap music). Simply brilliant and accurate and hilarious: http://m.youtube.com/watch?v=d0nERTFo-Sk.http://m.youtube.com/watch?v=GTQnarzmTOc. There have been many great economists of the various free market schools, Frederick August Hayek is one of the true Greats. He takes great pain to define terms that we take for granted and explain their value. Awe inspiring in his brilliancy, if you read this book you will be well armed with insights and information about the field of Economics and its far reaching impacts. You will learn things about the evolution of society that will cause you to rethink how much of an understanding and, indeed, education you have. He meticulously traces back through history the very origins of our modern arguments and shows us how in our modern arrogance we make the arguments of failed philosophies of yesteryear. Currently there is some French hack by the name of Piketty that is number one (for econ) on Amazon, it can only be the case that anyone who has given that book a positive review has never read F A Hayek. Or else it would be as obvious to them as it is to me (not a trained economist) the mistaken assumptions and out right dishonest conclusions as well as misleading analysis of statistics in Piketty's horrific 648 page waste of time. Piketty makes the failed arguments of the 17th century mercantalists and of the French rationalists who were simply wrong as most of their understandings of freedom came, not by experience, but by observing freedom elsewhere (England). Educate yourself, read anything by F A Hayek. These days we think so highly of ourselves that often it is the case that we do not realize the arguments of the day are, in actuality, the same as the arguments of a bygone era reworked and reworded for a newer more naive audience. No one should remember J M Keynes as his policies have proven failures everywhere they have been implemented (before durring and after his time). Personal and emotional bias in the field of Economics has led us to make heroes of failures and obscure references of true heroes. Rediscover an intellectual giant, learn from history, help turn the tide of bad decisions that we, as slaves of defunct economists, allow our society to make due to our ignorance.