Catallaxy: Between knowledge and the pretence of knowledge; between freedom and justice

Abstract

Motivation: The apparent consistency or complementarity between freedom and justice as norms defining the space of economic performance is marked by the nature of information networks uniquely obtained under conditions of complete openness, allowing people to pursue their interests through ingenuity and the possibility of unlimited cooperation.
Aim: Starting from the central area of Hayek’s discernment, which was knowledge produced and acquired in the market as a result of free decisions made by economic agents focused on the pursuit of individual goals, an attempt will be made to present this perspective on the tension between the values of freedom and justice so fundamentally encroaching on contemporary political and economic discussions.
Materials and methods: Critical analysis of text.
Results: Hayek did not remain blind to the negative consequences of the liberalism he promoted, although he did not develop an elaborate version of measures to neutralise them. His hints are found in this regard, but remain only general. Perhaps the only ones possible for such trans-social issues. And even in the face of revealed data regarding income inequality, we will not deny that entrepreneurs are the most productive and creative economic units — individuals who, by natural motives, will fight and utilise their abilities under the freedom of competition to establish and maintain their market positions. In a society, the state is the only force opposing these naturally grown potentials — it is only effective with the proper institutional setting for each country.