Freedom, I Write Your Name Essay Example | Topics and Well Written Essays - 3250 words

Freedom, I Write Your Name - Essay Example Some of libertarians uphold the perspectives of economist Friedrich August von Hayek. Hayek concluded that the rules of conduct in a society are evolving, that they survive because they are useful and help that society survive. To his mind, the free market had survived the test of time, in that most successful societies were market based in some way. Hayek considered free market capitalism to be superior to other economic systems because it handles human ignorance by passing information in coded form through the price mechanism, which indicates areas where profits could be made and resources efficiently used. Additionally, it allocates resources without being predicated on any specific objectives or assuming what the objectives of individual people are. It also facilitates freedom, in that for it to work there need to be rules demarcating â€Å"protected domains† for each person, where no other has the right to interfere. This facilitation manifests in private property rights. Hayek viewed strong property rights and the free market as the best way of protecting liberty. But, Hayek did not argue for the total abolishment of tax, or even that it should be restricted to law enforcement and defense. Hayek thought taxes, levied rightly, could be used for welfare—a kind of â€Å"bleeding heart libertarianism†Ã¢â‚¬â€or to provide certain goods which the market might fail to adequately supply. However, in practice Hayek believed it would hardly ever be necessary to use taxes in this way.