Donald Boudreaux’s The Essential Hayek
By Randall Holcombe • Monday June 22, 2015 12:18 PM PST •
Readers who want to get a flavor for the ideas of Friedrich Hayek will find an excellent introduction in Donald Boudreaux’s The Essential Hayek. The book can be downloaded free by clicking here.
Each chapter begins with a quotation from Hayek, but the book’s chapters explain Hayek’s ideas in Boudreaux’s words. Those ideas come from various works by Hayek, so the book is not a summary or discussion of specific works by Hayek, but rather an overview of Hayek’s ideas on the economy, on law, and on social organization more generally.
The book provides an excellent discussion of the advantages of free markets and limited government, and on the way that institutions can arise spontaneously without anyone planning them out, as a result of human action but not of human design.
The book is not a study guide to Hayek’s work, or a summary of his work, because, outside of the quotations that open each chapter, there are no references to the specific works of Hayek from which Boudreaux develops the chapter’s ideas. The book does end with suggestions for further reading, which can help guide those who want to know more.
Boudreaux’s discussion is insightful, clearly written, and provides an excellent introduction to the ideas of limited government. Rather than read what I have to say about it, read it yourself. It’s a free download.