Recht, Eigentum und Effizienz : zu F. A. v. Hayeks Verfassung der Freiheit

This paper (1) investigates Hayek's proposition that law in the sense of universal rules of conduct and property are the only solution to the problem of reconciling indi-vidual freedom with the absence of conflict. It (2) argues that the test of the compatibility with the inherited body of law as a guide line for the evolution of judge made law, basically comes down to the principle of "Ordnungskonformität" originating from W. Röpke. It (3) interprets Hayek's "law of liberty" in Coasean terms and advances the contention that efficiency is the only workable criterion for the specification and allocation of property rights. It (4) delivers evidence that Hayek - despite his admiration of the create powers of spontaneous orders makes out a case for government interven-tion. Finally, the paper discusses Hayek's interpretation of the Rule of Law.