We found a match
Your institution may have access to this item. Find your institution then sign in to continue.
- Title
Choosing one’s own informal institutions: on Hayek’s critique of Keynes’s immoralism.
- Authors
Berggren, Niclas
- Abstract
In the main, Hayek favored rules that apply equally to all and located such rules in tradition, beyond conscious construction. This led Hayek to attack Keynes’s immoralism, i.e., the position that one should be free to choose how to lead one’s life irrespective of the informal institutions in place. However, it is argued here that immoralism may be compatible with Hayek’s enterprise since Hayek misinterpreted Keynes, who did not advocate the dissolving of all informal rules for everybody. By avoiding this misinterpretation, immoralism can be seen as institutional experimentation at the margin, which Hayek himself favored.
- Subjects
RULES; HAYEK, Friedrich A. von (Friedrich August), 1899-1992; KEYNES, John Maynard, 1883-1946; IMMORALITY; POLITICAL attitudes
- Publication
Constitutional Political Economy, 2009, Vol 20, Issue 2, p139
- ISSN
1043-4062
- Publication type
Article
- DOI
10.1007/s10602-008-9055-3