Hayekism

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“The argument for liberty is not an argument against organization, which is one of the most powerful tools human reason can employ, but an argument against all exclusive, privileged, monopolistic organization, against the use of coercion to prevent others from doing better.”

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 Keynesian School.
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.

History

TBA

Beliefs

Hayekism is essentially Classical Liberalism mixed with Austrian School economics, while also putting emphasis on the denationalization of money supply, preferring free banking over central banking.

It advocates for very minimal government intervention, but hayekian political philosophy[1], by defining coercion fundamentally different from other classical liberals/ libertarians (which is questioned by some such as Murray Rothbard[2]) gives the state an important role in providing some public services, utilities, and social benefits, and also stating some policies such as mandatory conscription may be legitimately employed by the state. So, hayekism can also be said to overstep the boundaries set by the night-watchmen state proposed by "classical" minarchists.

Achievements

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.

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 small welfare state. 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

Flag of Hayekism
  1. Draw a washed out Minarchist-ball (Yellow and blue)
  2. Add a red circle in the middle.
  3. Add the eyes, and you're done!
Color Name HEX RGB
Yellow #FFC843 255, 200, 67
Blue #5A8EC7 90, 142, 199
Red #C00000 192, 0, 0


Relationships

Friends

  • 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.
  • Horseshoe Centrism - “Fascism is the stage reached after communism has proved an illusion.”

Frenemies

Commies

Further Information

Literature

All works by Friedrich Hayek

Wikipedia

References

  1. ↑ The Constitution of Liberty by Friedrich Hayek
  2. ↑ Confidential Memo on Hayek's "Constitution of Liberty" by Murray Rothbard

Gallery

Navigation

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