| |
| | Editor - Lit Lib, Literature of Liberty, Summer 1982, vol. 5, No. 2 ToC: The Online Library of Liberty (Site not responding. Last check: 2007-10-29) |
 | | They lead in turn to the spontaneous evolution of money which encourages a further division of labor, both of which, like prices, are unintended and undesigned social institutions. |
 | | These along with other undesigned institutions, such as the Common Law, mesh together to produce a spontaneous social order or what Hayek has called a "catallaxy." The rules that emerge from institutions such as markets and from the Common Law can then be discovered, studied, and implemented by man to establish the Rule of Law. |
 | | But as can be seen, the rules are not imposed from without to create order, but rather are immanent in the emergent social processes that, as if led by an invisible hand, themselves lead to orderly social institutions which in turn lead to an even wider social interdependence and coordination. |
| oll.libertyfund.org /Home3/HTML.php?recordID=0353.18 (15586 words) |
|