One of the prominent figures in economics, Hayek was highly esteemed for his remarkable contributions to the defense of free-market capitalism, an idea that played a crucial role in deregulation and privatization. His argument was premised on the Austrian school of thought, emphasizing the bottom-up nature by which economy operates, where no single individual or group can possibly fully grasp the complexity of the market. This basically implies that governing less is governing best.
One of the prominent figures in economics, Hayek was highly esteemed for his remarkable contributions to the defense of free-market capitalism, an idea that played a crucial role in deregulation and privatization. His argument was premised on the Austrian school of thought, emphasizing the bottom-up nature by which economy operates, where no single individual or group can possibly fully grasp the complexity of the market. This basically implies that governing less is governing best.