Hayekism: Difference between revisions

It advocates for very minimal government intervention, but hayekian political philosophy<ref>[https://ia800702.us.archive.org/26/items/TheConstitutionOfLiberty/The%20Constitution%20of%20Liberty.pdf The Constitution of Liberty] by Friedrich Hayek</ref>, by defining coercion fundamentally different from other classical liberals/[[File:Libertarian.png]] [[Libertarianism|libertarians]] (which is questioned by some such as Murray Rothbard<ref>[https://mises.org/library/confidential-memo-hayeks-constitution-liberty Confidential Memo on Hayek's "Constitution of Liberty"] by Murray Rothbard</ref>) gives the state an important role in providing some public services, utilities, and social benefits, and also stating some policies such as mandatory conscription may be legitimately employed by the state. So, hayekism can also be said to overstep the boundaries set by the night-watchmen state proposed by "classical" [[File:Minarchist.png]] [[Minarchism|minarchists]].

====Trade cycle theory====

Hayek’s earliest contribution was his development of a business cycle theory that built on the earlier work by Swedish economist Knut Wicksell and von Mises. While Hayek’s trade cycle theory, articulated during the Great Depression, has relatively few defenders today, some aspects of it remain valuable.

The economics of information is now an important area of economics, and many theorists (among them, Leonid Hurwicz, Sanford Grossman, and Joseph Stiglitz) credit Hayek with being among the first to emphasize the role of market prices in conveying information.

*[[File:Progconf.png]] [[Progressive Conservatism]] - [https://press.uchicago.edu/books/excerpt/2011/hayek_constitution.html Just gonna link this here.]

*[[File:Minarchist.png]] [[Minarchism]] - My second uncle, who's a little more radical than me.