F.a. Hayek

F . A . Hayek - Economic Policy and the Rule of LawIn this glacial chapter of his famous treatise , The Constitution of Liberty F . A . Hayek beforehand some extremely important arguments Firstly , Hayek makes an important reserve by saying that government involvement in the stintingal sphere is not tantamount to intervention and that this involvement is not undesirable if conducted through the operation of the line up of police force . Hayek claims that germinal classical liberal thinkers maintained that economic immunity was save a function of the application of the rule of law in the economic sphere . The moment the rule of law is emasculated , or dissociated altogether from economics , it presents an opportunity for the government to nail the ends of individuals and forward particularistic aims leading to dirigisme But , government whitethorn also yield benefits . He says : [T]he continuous growth and proficient knowledge which [a free-market] system makes possible will constantly signal new ways in which government might have services to its citizensSecondly , Hayek argues that the rule of law ties economics to a more(prenominal) general (and accountable ) framework , which is in keeping with the nitty-gritty and framework of a free economic system . So , it is not expediency that determines the role of government , but the guinea pig or principle of involvement to the extent that the rule of law is violated , the distinction between involvement and intervention blurs . He goes on to illustrate this point with a discussion of conversancy of contractThirdly , and most importantly , he contends that the rule of law whether inherent economic freedom in particular or political in general , is The rule of law in the economic sphere connotes two things : first , a free-market system , with tolerable information for all individuals and no barriers to entry second , the freedom reserved by an individual to pursue any ends allowable within this system through the means at his /her electric pig . If the rule of law operates without obstruction particular ends and means cannot be decided externally for an individual .

However , for Hayek , this imposition from without of how slew occupy themselves and what they receive is the very enterprise of distributive nicety : Distributive justice requires an allocation of resources by a commutation authority it requires that people be told what to do and what ends to serveGovernments that intervene in the economic sphere , aiming for a more equitable dissemination of incomes , may desire the rule of law as a general standard in trying to implement their state policies governments appear eager to circumvent economic freedom or make exceptions on a case-by-case basis , which lastly leads the system towards a command economy which is an untrammeled contravention of individual liberty and free enterprise . Thus , the rule of law and distributive justice remain mutually irreconcilableThe ease in Hayek s views come forward with resounding clarity clearly , it is difficult for those accustomed to welfare policies to accept the arguments without reservations . The chapter asks significant questions of the `liberty vs . equality debate , and Hayek makes his points rather skillfully...If you want to get a full essay, order it on our website: Orderessay

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