Hayek 's Individual Freedom Is Best Secured Through A Free Market

1660 Words Mar 4th, 2015 7 Pages
Marcus Roberts
2/27/2015
Mid-Term

1. Hayek argues that individual freedom is best secured through a free market. Explain his argument.

I believe to first understand Hayek argument and what it is that he was trying to convey to his audience, we would thoroughly have to understand the definition of collectivism and what it entails. Collectivism refers to the extent in which groups are held as priority over each individual maintained in the group. When referencing the market it is said that it dictates what you’re allowed to do whether it’s completed out of labor of love or for revenue, the choice is yours. In regards to that notion of “free market” you have to make your own decisions. From the view of the free market you should have the right to benefit and control property and it is essential part in economic freedom. For this theory, it is the only way that self-development can occur. For you to be truly free in the eyes of Hayek, the market has to have few restrictions in allowing choices to be made. Do what you want, but be smart bout it because the market is what responds to your actions, are your actions successful or detrimental? A collectivist attempt to control the market is denying the right for people to develop and choose. Essentially you are giving up you individuality when you act as a collectivist because its more majority based versus what you believe individually through morals and ethical reasoning. It is signaled as something that you want as a producer…
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