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Hayek’s 1945 Finlay Memorial Lecture: Tracing the origins and evolution of his ‘true’ individualism

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  • Mark Nolan

Abstract

Hayek’s original 1945 University College Dublin lecture outlined the origins and evolution of two different interpretations of ‘individualism’, comparing and contrasting what Hayek terms ‘true’ and ‘false’ individualism notwithstanding the misleading contemporary interpretations and distorted perceptions of the assumptions underlining ‘true’ individualism. Hayek developed and extended the Scottish Enlightenment theory of spontaneous order originally formulated by Adam Ferguson’s maxim that social order was the result of unintended human action rather than the result of deliberate human design in order to explain the origin of complex social structures, which originated in a Cromwellian maxim. The origination and inspiration for the title of Hayek’s lecture is also considered, as is the influence of other thinkers; Mandeville, Tocqueville, Mill, Acton and Schatz that Hayek cites in his Dublin lecture. Copyright Springer Science+Business Media New York 2013

Suggested Citation

  • Mark Nolan, 2013. "Hayek’s 1945 Finlay Memorial Lecture: Tracing the origins and evolution of his ‘true’ individualism," The Review of Austrian Economics, Springer;Society for the Development of Austrian Economics, vol. 26(1), pages 53-71, March.
    • Handle: RePEc:kap:revaec:v:26:y:2013:i:1:p:53-71
    DOI: 10.1007/s11138-012-0200-x
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    References listed on IDEAS

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    1. Hayek, F. A., 2010. "Studies on the Abuse and Decline of Reason," University of Chicago Press Economics Books, University of Chicago Press, number 9780226321127 edited by Caldwell, Bruce, Febrero.
    2. Ronald Hamowy, 2005. "The Political Sociology of Freedom," Books, Edward Elgar Publishing, number 3639.
    3. von Hayek, Friedrich August, 1989. "The Pretence of Knowledge," American Economic Review, American Economic Association, vol. 79(6), pages 3-7, December.
    4. Hayek, F. A., 2010. "Studies on the Abuse and Decline of Reason," University of Chicago Press Economics Books, University of Chicago Press, number 9780226321097 edited by Caldwell, Bruce, December.
    5. L. C. Hunter, 1959. "Mill And Cairnes On The Rate Of Interest," Oxford Economic Papers, Oxford University Press, vol. 11(1), pages 63-87.
    6. Bruce Caldwell, 1997. "Hayek and Socialism," Journal of Economic Literature, American Economic Association, vol. 35(4), pages 1856-1890, December.
    7. Hayek, F. A., 2011. "The Constitution of Liberty," University of Chicago Press Economics Books, University of Chicago Press, number 9780226315379 edited by Hamowy, Ronald, December.
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    More about this item

    Keywords

    F. A. Hayek; Individualism; Spontaneous Order; J. S. Mill; J. E. Cairnes; Finlay Memorial Lecture; Tocqueville; B13; B25; B31; B53; P16; B310;
    All these keywords.

    JEL classification:

    • B13 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Neoclassical through 1925 (Austrian, Marshallian, Walrasian, Wicksellian)
    • B25 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Historical; Institutional; Evolutionary; Austrian; Stockholm School
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • P16 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Capitalist Institutions; Welfare State

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