The Reading Room

The Best of the OLL No. 18: Friedrich Hayek, “Kinds of Order in Society” (1964)

This is part of “The Best of the Online Library of Liberty” which is a collection of some of the most important material in the OLL. This essay is by the Austrian economist and social theorist Friedrich Hayek in which he gives one of the most concise explanations of the difference between “constructed” orders and “spontaneous” orders. He focuses on the example of the division of labor as one of the key institutions of the free market which is a complex order not designed by any individual person.