Law, Legislation and Liberty, Volume 3: The Political Order by Friedrich August Hayek
By Friedrich August Hayek
Incisive, effortless, and eloquent, this 3rd and concluding quantity of F. A. Hayek's accomplished evaluate of the elemental political ideas which order and maintain loose societies comprises the clearest and such a lot uncompromising exposition of the political philosophy of 1 of the world's ideal economists.
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The 'incomes policy' nowadays advocated as a supposed means to combat inflation is in fact largely inspired by the monstrous idea that all material benefits should be determined by the holders of such power. 25 It is part of this tendency that in the course of this century an enormous and exceedingly wasteful apparatus of para-government has grown up, consisting of trade associations, trades unions and professional organizations, designed primarily to divert as much ~s possible of the stream of governmental favour to their members.
It is even more necessary where the successive decisions will be made by different groups of people with reference to different parts of the whole. Successive votes on particular issues 17 MAJORITY OPINION AND CONTEMPORARY DEMOCRACY would in such conditions not be likely to produce an aggregate result of which anyone would approve, unless they were all guided by the same general rules. It has in a great measure been an awareness of the unsatisfactory results of the established procedures of democratic decision-making that has led to the demand for an overall phln whereby all government action will be decided upon for a long period ahead.
26 The inevitability of such developments in a system where the legislature is omnipotent is cleary seen if we ask how a majority united on common action and capable of directing current policy can be formed. The original democratic ideal was based on the conception of a common opinion on what is right being held by most of the people. But community of opinion on basic values is not sufficient to determine a programme for current governmental action. The specific programme that is required to unite a body of supporters of a government, or to hold together such a party, must be based on some aggregation of different interests which can only be achieved by a process of bargaining.