The Constitution of Liberty by Friedrich von Hayek
  • 1. What is the primary focus of 'The Constitution of Liberty'?
A) Monetary policy and inflation control.
B) The principles of individual freedom and the rule of law.
C) Socialism and collective ownership.
D) Economic growth through government intervention.
  • 2. In which year was 'The Constitution of Liberty' published?
A) 1944
B) 1973
C) 1982
D) 1960
  • 3. What does Hayek mean by 'the rule of law'?
A) Legal framework that applies equally to all individuals.
B) A system where laws are made for certain classes only.
C) Laws that can be changed at any time by the government.
D) A legal framework that prioritizes state power over individual rights.
  • 4. According to Hayek, what is a potential danger of collectivism?
A) It guarantees economic prosperity.
B) It enhances democratic processes.
C) It can lead to tyranny and loss of individual freedoms.
D) It ensures equality for all citizens.
  • 5. What type of economic system does Hayek advocate for?
A) A mixed economy with heavy regulation.
B) A free-market economy.
C) A centrally planned economy.
D) A command economy.
  • 6. Which philosophical tradition does Hayek draw upon?
A) Marxism.
B) Utilitarianism.
C) Postmodernism.
D) Classical liberalism.
  • 7. What role does competition play in Hayek's theory?
A) It creates inequality and should be controlled.
B) It should be replaced by cooperation.
C) It is detrimental to social welfare.
D) It drives innovation and efficiency.
  • 8. What distinction does Hayek make regarding knowledge in society?
A) Knowledge should be regulated by authorities.
B) All knowledge can be collected and utilized by the government.
C) Expert knowledge is superior to local knowledge.
D) Knowledge is dispersed and cannot be centralized.
  • 9. How does Hayek view the relationship between liberal democracy and individual freedom?
A) Democracy should focus solely on majority rule.
B) Liberal democracy supports and protects individual freedom.
C) Individual freedom is irrelevant to democracy.
D) Liberal democracy restricts individual freedom.
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