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Economia e Sociedade

Print version ISSN 0104-0618


GANEM, Angela. The market as a social order in Adam Smith , Walras and Hayek. Econ. soc. [online]. 2012, vol.21, n.1, pp.143-164. ISSN 0104-0618.

The objective of the article is to critically present the liberal theories of Adam Smith, Leon Walras and F. A. Hayek, underlining what they have in common, that is, the idea of market as a general theory of society and the construction of scientific attributes that make possible the understanding of the supremacy of market order against other forms of social organization. It is assumed that this conception of market as social order appears originally in the history of economical thought and in the history of ideas through Adam Smith's solution against contract philosophers and that it advances analytically, a century later, in the attempt of logic-mathematic demonstration in Walras, to acquire the necessary theoretical souplesse for its survival, in the XX century, in the Darwinian adventures of the Austrian school libertarians, specially Hayek, for whom history would realize the self-development of the market. The text will traverse the philosophical filiations and the methodological implications of the marketing theories of those great authors showing the differentiated forms they assume: natural order for Smith, rational order for Walras and spontaneous order for Hayek.

Keywords : Market theories; Social order; A. Smith, 1723-1790; L. Walras, 1834-1910; F. Hayek, 1899-1992.

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