Jamal Awil

← The Morals of the Market

We must prepare for them. [fact]

In his late works, Hayek argued that the 'spontaneous order' of the market required an appropriate legal regime to insulate it from political intervention. While he argued that the rules governing individual conduct themselves evolve through a process of selection, he believed it was at least possible that the rules on which a spontaneous order rests may be designed. Rather than a doctrine of laissez-faire that precludes all constructivism, Hayekian neoliberalism aimed to fine-tune rules to secure submission to the overall order. … When asked in 1978 whether his account of spontaneous order inherently biased outcomes 'in favour of past discriminations or past inequities', Hayek responded bluntly: 'It accepts historical accidents.' … For all his talk of spontaneity, Hayek was convinced that 'favourable accidents do not just happen. We must prepare for them.' In Chile, Hayek saw the miracle of a state that was prepared to use its powers to prepare the terrain for such favourable accidents by constitutionally protecting the market.

Jessica Whyte, The Morals of the Market, loc. 360