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Bruce Caldwell, ed., The Collected Works of F. A. Hayek, Volume 15: The Market and Other Orders (Chicago: The University of Chicago Press, 2014), pp. x + 458, $70 (hardcover). ISBN 978-0-226-08955-3.

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Bruce Caldwell, ed., The Collected Works of F. A. Hayek, Volume 15: The Market and Other Orders (Chicago: The University of Chicago Press, 2014), pp. x + 458, $70 (hardcover). ISBN 978-0-226-08955-3.

Published online by Cambridge University Press:  11 May 2016

Karen I. Vaughn
Karen I. Vaughn*
Affiliation:
George Mason University
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Book Reviews
Information
Journal of the History of Economic Thought , Volume 38 , Issue 2 , June 2016 , pp. 246 - 249
Copyright
Copyright © The History of Economics Society 2016 

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References

1 Caldwell makes what strikes me as the mystifying claim that Hayek’s use of the term “spontaneous order” in this context is not the same concept that Hayek will later develop. While the analogy Hayek draws upon is from the field of chemistry, to my mind, this surely is one instance of orders formed by elements following rules and not by top-down design, the hallmark of a spontaneous order. But perhaps I am missing something.

2 The 1960s saw the development of related topics such as search theory and the economics of information. One can’t help but wonder if any of those who developed that literature attended Hayek’s lectures.