Economic policy from an evolutionary perspective: a new approach

Hayek saw markets as producing unintended results though actions were intentional. Hayek was sceptical about the potential for economic order in imposing intended results. His central insight was that there is insufficient knowledge to carry out intervention. There is a need to redefine the economic powers of modern states. Weber's ideas of the state can help in providing a concept to analyze this issue and assess the impact of government intervention.