Hayekian liberalism

Hayekian liberalism is a philosophy that emphasizes the importance of individual freedom and free markets. It argues that spontaneous market processes, guided by competition and personal choices, best allocate resources and create prosperity. Hayek believed that government intervention should be limited because centralized control can distort these processes and lead to unintended negative consequences. Instead, a society should focus on protecting individual liberties and the rule of law, allowing knowledge and innovation to emerge naturally. Overall, it promotes minimal government and trusts that decentralized decision-making leads to better social and economic outcomes.