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This is due to the neoclassical emphasis on static equilibrium. However, this assumes good information, whereas the true world is characterised by ignorance, change, and uncertainty, so that data cannot be ‘objectified’ and made to serve given ends. All we will count on is an inclination towards equilibrium because the actions of people are co-ordinated by way of the mechanism of prices. Thus Hayek extends subjectivism beyond the theory of worth to the speculation of market process.

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The ‘rationalism’ to which the idea of spontaneous order is in mental opposition precedes the Enlightenment and perhaps is most starkly expressed in seventeenth-century natural regulation doctrines. In Thomas Hobbes’ model of society, for instance, a simple ‘natural’ purpose is deemed to be able to developing those guidelines that are universally appropriate for order and continuity. It is assumed that this cause can solely conceive of a authorized order by method of guidelines emanating from a determinate sovereign on the head of a hierarchical system. That hidden knowledge immanent in a dispersed and evolutionary system is subsequently systematically ignored in the pursuit of a statute or code construction.

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