Friedrich A. Hayek, Big-Government Skeptic
Book Review By FRANCIS FUKUYAMA
NYT
THE CONSTITUTION OF LIBERTY: The Definitive Edition. (The Collected Works of F. A. Hayek, Volume XVII.)
By F. A. Hayek
By Edited by Ronald Hamowy
583 pp. University of Chicago Press. $25.
The publication of the definitive edition of Friedrich A. Hayek’s “Constitution of Liberty” coincides with the unexpected best-seller status of his earlier book “The Road to Serfdom” as a result of its promotion by the conservative talk-show host Glenn Beck. In an age when many on the right are worried that the Obama administration’s reform of health care is leading us toward socialism, Hayek’s warnings from the mid-20th century about society’s slide toward despotism, and his principled defense of a minimal state, have found strong political resonance.
The new edition of “The Constitution of Liberty,” which was first published in 1960, differs from the original primarily insofar as the extensive endnotes in the original edition have now been placed at the bottom of the page and heavily annotated by the editor, Ronald Hamowy. The notes, often more extensive than the text itself, make clear the extraordinary breadth and depth of Hayek’s erudition, and his ability to wander far beyond economics into history, philosophy, biology and other fields.
Unlike Beck, Hayek was a very serious thinker, and it would be too bad if the current association between the two led us to dismiss his thought. Hayek always had problems getting the respect he deserved; even when he was awarded the Nobel in economic science in 1974, the awards committee paired him with the left-leaning economist Gunnar Myrdal. With the passage of time, however, many of the ideas expressed in “The Constitution of Liberty” have become broadly accepted by economists — e.g., that labor unions create a privileged labor sector at the expense of the nonunionized; that rent control reduces the supply of housing; or that agricultural subsidies lower the general welfare and create a bonanza for politicians. His view that ambitious government-sponsored programs often produce unintended consequences served as an intellectual underpinning of the Reagan-Thatcher revolution of the 1980s and ’90s. Now that the aspirations of that revolution are being revived by Tea Partiers and other conservatives, it is useful to review some of the intellectual foundations on which it rested.
(Original here.)
NYT
THE CONSTITUTION OF LIBERTY: The Definitive Edition. (The Collected Works of F. A. Hayek, Volume XVII.)
By F. A. Hayek
By Edited by Ronald Hamowy
583 pp. University of Chicago Press. $25.
The publication of the definitive edition of Friedrich A. Hayek’s “Constitution of Liberty” coincides with the unexpected best-seller status of his earlier book “The Road to Serfdom” as a result of its promotion by the conservative talk-show host Glenn Beck. In an age when many on the right are worried that the Obama administration’s reform of health care is leading us toward socialism, Hayek’s warnings from the mid-20th century about society’s slide toward despotism, and his principled defense of a minimal state, have found strong political resonance.
The new edition of “The Constitution of Liberty,” which was first published in 1960, differs from the original primarily insofar as the extensive endnotes in the original edition have now been placed at the bottom of the page and heavily annotated by the editor, Ronald Hamowy. The notes, often more extensive than the text itself, make clear the extraordinary breadth and depth of Hayek’s erudition, and his ability to wander far beyond economics into history, philosophy, biology and other fields.
Unlike Beck, Hayek was a very serious thinker, and it would be too bad if the current association between the two led us to dismiss his thought. Hayek always had problems getting the respect he deserved; even when he was awarded the Nobel in economic science in 1974, the awards committee paired him with the left-leaning economist Gunnar Myrdal. With the passage of time, however, many of the ideas expressed in “The Constitution of Liberty” have become broadly accepted by economists — e.g., that labor unions create a privileged labor sector at the expense of the nonunionized; that rent control reduces the supply of housing; or that agricultural subsidies lower the general welfare and create a bonanza for politicians. His view that ambitious government-sponsored programs often produce unintended consequences served as an intellectual underpinning of the Reagan-Thatcher revolution of the 1980s and ’90s. Now that the aspirations of that revolution are being revived by Tea Partiers and other conservatives, it is useful to review some of the intellectual foundations on which it rested.
(Original here.)
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