Hayek on Free Enterprise
Course Outline
Hayek on Free Enterprise
This video covers Friedrich Hayek’s 1947 essay, “Free Enterprise and Competitive Order.” When Hayek first presented this essay, the world was winding down from a period where fascism, totalitarianism, and communism were dominant ideologies. Hayek advocates for a positive program for freedom, but acknowledges that more government is likely and that it’s not enough to simply limit the state, but to analyze how the state could do better.
Ideas matter, and it’s important that the right ideas be in place. In this essay, Hayek discusses ideas on monetary policy and land rights management as well as topics that were ahead of his time, such as monopoly power arising through patent and copyright law and intellectual property protection. Hayek challenges his classical liberal compatriots on topics such as limited liability for corporations, trade unions, and the inheritance tax. This essay calls for the market-oriented movement to reexamine its premises to better define which ideas were the most important to promote in the future.
Teacher Resources
Related to this course
See all Teacher Resources related to this course
Subtitles
Thanks to our awesome community of subtitle contributors, individual videos in this course might have additional languages. More info below on how to see which languages are available (and how to contribute more!).
How to turn on captions and select a language:
- Click the settings icon (⚙) at the bottom of the video screen.
- Click Subtitles/CC.
- Select a language.
Contribute Translations!
Join the team and help us provide world-class economics education to everyone, everywhere for free! You can also reach out to us at [email protected] for more info.
Submit subtitles
Accessibility
We aim to make our content accessible to users around the world with varying needs and circumstances.
Currently we provide:
- A website built to the W3C Web Accessibility standards
- Subtitles and transcripts for our most popular content
- Video files for download
Are we missing something? Please let us know at [email protected]
Creative Commons
This work is licensed under a Creative Commons Attribution-NoDerivatives 4.0 International License.
The third party material as seen in this video is subject to third party copyright and is used here pursuant
to the fair use doctrine as stipulated in Section 107 of the Copyright Act. We grant no rights and make no
warranties with regard to the third party material depicted in the video and your use of this video may
require additional clearances and licenses. We advise consulting with clearance counsel before relying
on the fair use doctrine.