F.A Hayek is one of the most important and influential advocates of liberalism in the 20th century. His theory is famously based on the concept of spontaneous order, an order emerging from the interaction of individuals without central control and appears critical of every form of...

For more than two centuries, liberal constitutionalists have championed the separation of powers as a means of constraining self-interested political activity that erodes personal freedom. Although F. A. Hayek values the separation of powers, he contends that it cannot safeguard individual...

The Corona pandemic exposes the strengths and weaknesses of the European Union (EU) as well as the differences in the resilience of the European economies. This study therefore looks at how the EU and its member states can emerge stronger and more competitive from the crisis. The ideas of the...

Die Corona-Pandemie legt die Stärken und Schwächen der Europäischen Union (EU) bloß und verdeutlicht die Unterschiede in der Leistungs- und Widerstandsfähigkeit der europäischen Volkswirtschaften. Die vorliegende Studie widmet sich daher der Frage, wie die EU gestärkt und mit höherer...

Purpose: This paper investigates the factors responsible for the emergence of different arrangements of state-society relations. Being concerned with the relations related to the industrial sector, this study focuses more on state-business-labor relations (SBLRs), especially on power dynamics...

China has created a distinct economic system. Yet despite a growing literature with valuable contributions on the institutional arrangements under 'capitalism with Chinese characteristics', the precise economic mechanisms underpinning China's state-market relations remain undertheorised. In this...

What is the appropriate role of the state in economic policy-making? This paper shows that Friedrich Hayek, who is often considered a proponent of laissez-faire liberalism, offers three different answers to this problem. First, Hayek argues that the state should provide a legal framework for...

This paper provides, after a contextualizing introduction, the first-time translation of Walter Eucken’s presentation during the first session of the founding meeting of the Mont Pèlerin Society, April 1-10, 1947. Eucken was the only scholar based in Germany to attend the conference and took...