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A review by mikan_yamano
Law, Legislation and Liberty: A New Statement of the Liberal Principles of Justice and Political Economy by F.A. Hayek
challenging
informative
medium-paced
Hard to read for a non-native English reader. You need to read those long sentences several times to correctly break them into components. However it is easy for readers to grasp his central assertion, as Hayek was continually repeating it in every chapter: the only way of preserving individual freedom is no enforcement of positive rules and market economy. We only need negative rules to delimit the private domain. Nonexistence of positive rules gives individuals freedom to decide how to act in circumstances which cannot be foreseen. Hayek was very frank to point out that market economy is just a mechanism allowing efficient allocation without getting all information about production, transactions, preferences etc.
It is not a panacea to eliminate all dissatisfaction—— “But nothing we can do, short of establishing absolute equality of all incomes, an alter the fact that a certain percentage of the population must find itself in the bottom of the scale”. So, the achievement of the spontaneous order Hayek expected is hard because the both groups, neither the government officials and the people wants to strive for it. Maybe things will change if the minimum wage becomes really sufficient for everyone, regardless of his or her job, to live decently. Then less people will be tempted into egalitarian because the present living standards is satisfying.
It is not a panacea to eliminate all dissatisfaction—— “But nothing we can do, short of establishing absolute equality of all incomes, an alter the fact that a certain percentage of the population must find itself in the bottom of the scale”. So, the achievement of the spontaneous order Hayek expected is hard because the both groups, neither the government officials and the people wants to strive for it. Maybe things will change if the minimum wage becomes really sufficient for everyone, regardless of his or her job, to live decently. Then less people will be tempted into egalitarian because the present living standards is satisfying.