Spontaneous Order

Spontaneous order theory is properly located in the history of social science. Indeed, the only part of social theory that can genuinely be said to be scientific derives from it. This scientific nature is seen in microeconomics, where the theory of the market describes how the voluntary actions of discrete individuals produce a predictable order from which we explain all the paraphernalia of modern economics. The main features of such an order are not designed by any one person or institution, but emerge spontaneously once individuals are left to pursue their private interests. Attempts to design an economic order, as in socialism, are condemned by Hayek as constructivist rationalism.

The theory of spontaneous order goes beyond economics because it seeks to explain how a range of ...