Individualism and Economic Order

Friedrich A. HAYEK

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HAYEK, Friedrich A. Individualism and Economic Order. Chicago: University of Chicago Press, (1948). Octavo, original blue cloth. Housed in a custom clamshell box.

First edition, presentation copy, of this collection of economics essays rejecting socialism in favor of true individualism, inscribed in German by Friedrich Hayek: "Herrn Kollegen Dr Richard Klar mit den herzlichsten Empfehlung [with the warmest recommendation] von F.A. Hayek. Chicago 3.II.54."

A collection of essays covering economic policy and theory, moral philosophy and the methods of the social sciences, all written from an individualist perspective. Co-winner of the 1974 Nobel Prize in Economics and a prominent member of the "Austrian School" of economic thought, Hayek went "beyond [Ludwig von] Mises in reformulating the notion of economic coordination as an information problem, competition acting essentially as a discovery process" (Blaug, 557). Hayek's main contributions as an economist have been his arguments about the benefits of free markets and the information provided by prices. These arguments lead to the conclusion that attempts to alter or control markets should be opposed because they inevitably limit individual freedom, reduce economic efficiency and lower living standards. Markets, for Hayek, were self-regulating devices that promote prosperity. Government policy and other attempts to hinder the workings of markets make us worse off economically and reduce individual liberty" (Pressman, 119). Without scarce dust jacket.

Interior fine, scattered hazing to cloth, light rubbing and toning to spine. A near-fine inscribed copy.

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