According to Adam Smith, Friedrich Hayek and everyone else who knows what he or she is talking about, well-functioning markets depend, inter alia, upon clear property rights and a judicial system that enforces agreements and resolve disputes.
It’s true that Friedrich Hayek, whom Mr Linker shamelessly abuses, is the most prominent 20th-century intellectual behind the concept of spontaneous order—the theory that systems, such as markets, naturally correct, and function best without human meddling. It’s true that Hayek is commonly lumped in with libertarians. It’s true that spontaneous order is an idea libertarians tend to promote. Yet spontaneous order is not a libertarian idea.