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The Constitution of Liberty
Book

The Constitution of Liberty

Friedrich A. Hayek
University of Chicago Press, 2011

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Editorial Rating

8

Qualities

  • Innovative

Recommendation

The timeless insights economist and political philosopher Friedrich A. Hayek wrote in 1960 still have currency. His reasoned advocacy of economic freedom and personal liberty applies to many modern debates. Hayek contrasts limited government's benefits with the costs of central economic planning. He shows how liberty takes sustenance from law, due process and constitutional government, and notes serious but subtle threats to individual freedom. Scholars turn to Hayek – and his work among the classics of modern economic thought – for a detailed philosophical foundation for limited government.

Take-Aways

  • Limited government contributes to social progress by encouraging individual initiative.
  • Property rights are closely linked to the broader political concept of personal liberty.
  • Laws that comply with unwritten moral codes endure. Other laws may disappear.

About the Author

Friedrich A. Hayek, an Austrian-born economist and political philosopher, advocated market-based capitalism and limited government. He was co-winner of the Nobel Prize for Economics in 1974 and recipient of the Presidential Medal of Freedom in 1991.

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