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Cambridge Journal of Economics 28:291-300 (2004)
Cambridge Journal of Economics, Vol. 28, No. 2, © Cambridge Political Economy Society 2004; all rights reserved

Notes and Comments

Hayekian evolution reconsidered: a response to Caldwell

Geoffrey M. Hodgson*

Address for correspondence: Malting House, 1 Burton End, West Wickham, Cambridgeshire CB1 6SD, UK; email: g.m.hodgson{at}herts.ac.uk

Caldwell (2001. Hodgson on Hayek: a critique, Cambridge Journal of Economics, vol. 25, 541–55) raises a number of criticisms of Hodgson's (1993. Economics and Evolution: Bringing Life Back into Economics, Cambridge, UK and Ann Arbor, MI, Polity Press and University of Michigan Press) analysis of Hayek. This reply acknowledges the passages in The Constitution of Liberty where Hayek discusses evolutionary ideas. It is also agreed that the description in the secondary literature of Hayek as a ‘methodological individualist’ is misleading or flawed. However, it is argued that Hayek's neglect of Malthus remains real and problematic. This neglect is connected to Hayek's underestimation of the scale of the Darwinian intellectual revolution. It is also argued here that Caldwell's attempt to justify Hayek's analytical assumption of the given individual is unconvincing.

Key Words: Hayek • Darwin • Malthus • Evolution • Spontaneous order

JEL classifications: B25, B31, B52, B53

Manuscript received May 21, 2001; final version received February 20, 2002.


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