Of Rationalism

Hayek's critique of the assumption of perfect information in models of economic equilibrium and his focus on the ''unintended and uncomprehended'' character of knowledge drew him inexorably toward a much larger target, the role of reason in modern culture. In attacking rationalism he was aware that he would be misunderstood, particularly as he at first labeled his approach anti-rationalist. He later discarded this in favor of Popper's term ''critical rationalism.'' This was less confusing,...