Author: David Peterson

Is Hayek’s Moral Vision Compatible with Democracy?

One of the most extraordinary intellects of recent times, F. A. Hayek’s ideas of individual liberty and free markets are embedded in modern discourse. His economic and social theories helped unite social conservatives, free market proponents, and anti-communists who crafted an alliance on both sides of the Atlantic during the last half of the 20th century. His innovative thought was vital to contemporary idioms like deregulation, globalization, and right sizing government. Today there are well over one hundred “market oriented” institutes that promote Hayek’s theories and social philosophy and even present day governments and political parties still acknowledge his contributions. Yet, ironically, the great economist was uncomfortable with the label ‘conservative’ — always describing himself as a classical liberal. Despite so much public acclaim, little known features of the professor’s social thought are especially relevant to today’s political and cultural controversies. Although Hayek is celebrated by conservative activists and institutes as a bulwark for traditional values, many well informed people would be surprised to learn that his beliefs concerning morality and its role in a free …