Hayekism is a right-wing libertarian ideology based off Friedrich Hayek's ideas. He believes the state should have minimal involvement in the economy aside from basic public services, and that currency should be denationalized and not be a public matter, thus the state can't intervene in the creation of money. He's also known for being a frenemy of Keynesianism.
He thinks that Socialism and collectivist ideas, in general, are a step backward and that western society has or at least should've already overcome such mentality. He also believes that each reform which brings society closer to Socialism puts it on a slippery slope towards totalitarianism.
He's basically Classical Liberalism mixed with Austrian School but with some specific beliefs, mostly in monetary theory (he likes free banking but thinks that it can't be implemented for pragmatic reasons)
He advocates for very minimal government intervention, but also allows some basic public services and social benefits, preferably done by local government (i.e. education, healthcare, welfare).
1. Trade cycle theory
Hayek’s earliest contribution was his development of a business cycle theory that built on the earlier work by Swedish economist Knut Wicksell and von Mises. While Hayek’s trade cycle theory, articulated during the Great Depression, has relatively few defenders today, some aspects of it remain valuable.
2. Economics and knowledge
The economics of information is now an important area of economics, and many theorists (among them, Leonid Hurwicz, Sanford Grossman, and Joseph Stiglitz) credit Hayek with being among the first to emphasize the role of market prices in conveying information.
Personality and Behaviour
Ancaps and Minarchists constantly make fun of Hayek, calling him a socialist because he wants a little more government. He also usually agrees with everything an Ancap says but don't like the conclusion the Ancaps have come to, eliminate the state completely.
And he's constantly freaking out and saying that the current leaders are as bad as Nazis because they don't promote laissez-faire capitalism.
How to Draw
- Draw a washed out Minarchist-ball (Yellow and blue)
- Add a red circle in the middle.
- Add the eyes, and you're done!
|Yellow||#FFC843||255, 200, 67|
|Blue||#5A8EC7||90, 142, 199|
|Red||#C00000||192, 0, 0|
- Classical Liberalism - My great grandfather who initiated all.
- Conservative Liberalism - Mr. Burke was based also I'm an old whig.
- Austrian School - My father with slightly more radical beliefs.
- Ordo-Liberalism - A bit statist and interventionist, although Eucken was a cool guy.
- Neoliberalism - Similar to him, but more global.
- Libertarianism - My little less extremist grandfather with a different way to see economics. Not the biggest fan of the term 'libertarian' though; I like to say I'm more of an Old Whig.
- Capitalism - A little too interventionist & protectionist, but you're still on the free-enterprise side.
- Liberal Democracy - My favourite system.
- Korwinism - Another fan of mine. In general, he has the right ideas. Just a little sexist, to put it lightly.
- Social Libertarianism - "There are difficult questions about the precise standard which should thus be assured... but there can be no doubt that some minimum of food, shelter, and clothing, sufficient to preserve health and the capacity to work, can be assured to everybody."
- Chicago School - We have our differences but Milton Friedman was a great economist.
- Patriotism - I'm a British patriot!
- Progressive Conservatism - Just gonna link this here.
- Minarchism - My second uncle, who's a little more radical than me.
- Keynesianism - Finally, a worthy opponent! Our battle will be legendary!
- Anarcho-Capitalism - My other second uncle, who's even crazier than us both.
- Hoppeanism- YES, I advocated for a flat tax ONCE, and NO, that doesn't make me a commie!
- Conservatism - You have some good points, although sometimes you can be too interventionist.
- National Liberalism & National Libertarianism - Although Nationalism is collectivist you are correct opposing world government.
- National Conservatism - Similar to the three above.
- Pinochetism - Very economically based! But because I don't like associating with dictators, I just call him Authoritarian Capitalism .
- Salazarism - I sent him a copy of my book.
- Francoism - He took notes of our conference in 1959.
- Authoritarian Conservatism & Authoritarian Liberalism - I prefer a dictatorship with some degree of liberalism that a democracy with total absence of it. Also, Carl Schmitt was kind of based.
- Reactionary Liberalism - A bit mad, but he has many good ideas. Additionally, we both like Burke and Carl Schmitt.
- Alt-Lite - Mixed bag but is agreeable to see young people against big government.
- Socialism - If only you understood economics...
- National Socialism - COMMIE!
- British Fascism - COMMIE!
- Marxism–Leninism - COMMIE!
- Stalinism - COMMIE!
- Mercantilism - COMMIE!
- Protectionism - COMMIE!
- National Bolshevism - COMMIE!
- Globalism - A terrible idea!
All works by Friedrich Hayek
- The Constitution of Liberty
- The Denationalization of Money
- The Road to Serfdom
- The use of knowledge in Society
- Law, legislation and liberty
- Letter for the times
Credit: u/bruno-radical, Source
Credit: TheLegend2T, Source