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Fall 2008

ISSN 0890-913X

Volume 24, Number 1

Categories: Economics | Fall 2008

Equality before the Law and its Role for Transition to Capitalism: Thoughts from Hayekian Epistemology and Social Theory

Christoph Sprich, Berlin, Germany

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TheJournalofPrivateEnterprise24(1),2008,79-94EqualitybeforetheLawanditsRoleforTransitiontoCapitalism:ThoughtsfromHayekianEpistemologyandSocialTheoryChristophSprich*Berlin,GermanyAbstractWithrespecttotheworkofFriedrichAugustvonHayek,thisarticlepointsouttheimportanceoftheprincipleofequalityoflawforeconomicperformance.ThesystematicplaceofequalitybeforethelawinHayek’sworkistobefoundinhisdifferentiationbetweentwofundamentalprinciplesoforderinsociety.Thetheoreticalrelationbetweentheorderofasocietyanditseconomicperformanceisexpressedempirically.Countrieswithahigherrealizationoftheruleoflawregularlyhaveahigherincomepercapita.Withrespecttotransitionalcountries,itthereforecouldbestatedthatthesuccessoftransitiondependsalsoonthegradeoftherealizationoftheprincipleofequalitybeforethelawandoftheruleoflawinthosecountries.JELCodes:P20,B52,D83Keywords:Transitionaleconomics,Institutions,Knowledge,AustrianeconomicsI.Introduction1.OutlineoftheProblemThisessayexaminestheroleofthetraditionalliberalvalueofequalitybeforethelawforthetransformationofformersocialisticeconomiesfromtheperspectiveofHayekiansocialtheorywithreferencetotheHayekianepistemology.First,wewilllookattheideaofequalitybeforethelaw.InSectionIIanoutlineoftheHayekianepistemologyandanexplanationoftherelationofhisepistemologytohissocialtheorywillthenmakecleartheroleofknowledgeinHayekianthinking,andwithsuchanunderstandingwecanunderstandtheroleoforderin*ThisessaywasawardedSecondPrizeintheJuniorFacultyDivisionofthe2005OliveW.GarveyFellowshipsCompetition,sponsoredbyTheIndependentInstitute.79

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Title	Equality before the Law and its Role for Transition to Capitalism: Thoughts from Hayekian Epistemology and Social Theory
Authors/Creators:	Christoph Sprich, Berlin, Germany
Year:	2008
Volume:	24
Number:	1
Pages:	79 - 94
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Articles
Keywords:	Economic Analysis, Austrian Economics, Transitional economics, Institutions, Knowledge, Friedrich Hayek

Citation:
Sprich, Christoph / 2008. "Equality before the Law and its Role for Transition to Capitalism: Thoughts from Hayekian Epistemology and Social Theory." The Journal of Private Enterprise, 24(1): 79-94.