Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Complexity and Technocracy: The Hayekian Critique of Neoclassical Law & Economics

Complexity and Technocracy: The Hayekian Critique of Neoclassical Law & Economics Abstract This essay will employ theoretical tools from the Austrian school of economics in order to study law as a social system and develop a more accurate comprehension of its functions and of the evolutionary processes to which it is subject. By building up from Hayek’s theories of institutions and complex phenomena, both of which emphasize the “spontaneous” nature of social phenomena vis-à-vis proposals of conscious “steering” by means of central planning, we’ll try to show how neoclassical approaches to legal theory are based on unrealistic assumptions about human cognition and, as such, turn out to be a subclass of the so-called “constructivist” thought, severely criticized by Hayek in his works. At the end of the article, we’ll discuss in passing some internal difficulties with the Hayekian approach itself. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal des Économistes et des Études Humaines de Gruyter

Complexity and Technocracy: The Hayekian Critique of Neoclassical Law & Economics

Loading next page...
 
/lp/de-gruyter/complexity-and-technocracy-the-hayekian-critique-of-neoclassical-law-r3IWz0050t
Publisher
de Gruyter
Copyright
Copyright © 2015 by the
ISSN
2194-5799
eISSN
2153-1552
DOI
10.1515/jeeh-2014-0018
Publisher site
See Article on Publisher Site

Abstract

Abstract This essay will employ theoretical tools from the Austrian school of economics in order to study law as a social system and develop a more accurate comprehension of its functions and of the evolutionary processes to which it is subject. By building up from Hayek’s theories of institutions and complex phenomena, both of which emphasize the “spontaneous” nature of social phenomena vis-à-vis proposals of conscious “steering” by means of central planning, we’ll try to show how neoclassical approaches to legal theory are based on unrealistic assumptions about human cognition and, as such, turn out to be a subclass of the so-called “constructivist” thought, severely criticized by Hayek in his works. At the end of the article, we’ll discuss in passing some internal difficulties with the Hayekian approach itself.

Journal

Journal des Économistes et des Études Humainesde Gruyter

Published: Dec 1, 2015

There are no references for this article.