Hayek on 'Genius for Compromise'

http://www.futureofcapitalism.com/2010/08/hayek-on-genius-for-compromise

At the Coordination Problem blog, Steve Horwitz has posted a link to a PDF of an F.A. Hayek column from 1945 that Professor Horwitz writes is "very relevant to our own times." The most interesting section to me was the following:

In the piecemeal process of adaptation and change there has always been opportunity for the people to change institutions into something different from what they were intended to be, to create a society that was not the result of a single coherent plan, but of innumerable decisions of free men and women. The confidence that in the end things would somehow turn out right was largely justified by the fact that in a free society the actions of the Government were of minor importance compared with the manner in which people turned to their own use whatever instruments the government provided.

by Ira Stoll  |  Aug 26, 2010 at 9:56 pm Related Topics:  Education, Hayek receive the latest by email: subscribe to the free futureofcapitalism.com mailing list