HAYEK'S UNDERSTANDING OF LAW
Abstract
In this paper, the author will try to present Hayek 's understanding of law in a concise way, with reference to all institutions and processes related to such a topic, through the analysis of Hayek's works as well as the analysis of the critique of his understandings. First of all, his evolutionary approach will be explained, which enables the processes in a society to be viewed analogously to natural processes. Further, the main thesis of Hayek's theory will be elaborated, that is the connection between the market and common law in the embodiment of the spontaneous order on the one hand, and the made order which Hayek calls "taxis" on the other hand. Additionally, Hayek's understanding of the purpose and character of law as well as his understanding of the law, as well as his distinction between the law of freedom and the law of coercion, i.e. between "nomos" and "thesis". Finally, this paper attempt to represent the Hayek's detailed inquiry into human behaviour, the limitations of human possibilities as well as the misconceptions that have ruled for centuries which stem from the belief in the unlimited powers of science.
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