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Reading Hayek in the 21st Century: A Critical Inquiry into his Political Theory

Papaioannou, T

MacMillan Publishers   September 18 2012

ISBN 978-0230301627

This book offers a new radical reading of Hayek in the 21st century. It investigates the moral dimension of his political theory, arguing that it is based on the methodological implications of an epistemologically founded concept of morality. This concept is about the recognition and respect of the natural limits of human knowledge. The moral dimension of Hayek's theory consists of the process of spontaneity and evolution. This process excludes but also requires substantive politics. The moral exclusion of substantive politics undermines freedom and equality in the market, relativising commutative justice and legitimating the minimal state only from the point of view of its legality. Therefore, such politics is also required for preserving and maintaining the market institutions in terms of liberalism. This dualism is due to the fact that, despite Hayek's neo-liberal rhetoric, the process of spontaneity and evolution cannot by itself be safeguarded against coercion, inequality and injustice.