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Hayek thought that all economic behavior (and by implication other human behavior) is based on fallible interpretations of what information is important and of its implications for the future. This epistemological idea animated not only his heterodox economic thought, but his ideal of the rule of law; his road-to-serfdom thesis; and his critique of the notion of social justice. However, the epistemological idea is a protean one that Hayek did not always handle carefully. This volume presents one of the most sophisticated critical reflections on Hayek ever assembled between two covers.

This book was originally published as a special issue of Critical Review.

Table of Contents
1. Hayek's Two Epistemologies and the Paradoxes of His Thought Jeffrey Friedman 2. The Failed Appropriation of F. A. Hayek by Formalist Economics Peter J. Boettke And Kyle W. O'Donnell 3. Hayek and Liberty Andrew Gamble 4. The Road to Serfdom's Economistic Worldview François Godard 5. Hayek, Social Theory, and the Contrastive Explanation of Socio-Economic Order Paul Lewis 6. The ''Mirage'' of Social Justice: Hayek Against (and For) Rawls Andrew Lister 7. The Planners and the Planned Alan Ryan 8. Some Implications of Hayek's Cognitive Theory Michael Strong 9. Hayek, Equilibrium, and the Role of Institutions in Economic Order Karen I. Vaughn 10. Hayek's Business-Cycle Theory: Half Right Daniel Kuehn