The Market and Other Orders

In addition to his groundbreaking contribution to pure economic theory, F. Hayek deeply explored the question of how knowledge, dispersed among the minds of many individual market participants, can coalesce into a comprehensive order of economic activity. The 15th volume of the Collected Works, titled "The Market and Other Orders," consists of writings produced throughout F. Hayek's scientific life, in which he attempted to resolve the "problem of knowledge."
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.More than 20 texts of public speeches, essays, lectures, including the 1974 Nobel Lecture "The Pretenses of Knowledge," compiled in this volume draw on a wide range of approaches, including the philosophy of science, brain physiology, legal theory, and political theory. Readers can trace the development of the author's thoughts from the formulation of the concept of spontaneous order in economic science, through the integration of this idea into political theory and other disciplines, to its culmination in a comprehensive social theory explaining spontaneous order in the most diverse complex systems studied by F. Hayek throughout his research career.