d foresighted thinking in planning our common affairs. (13) It is about what is the best way of doing so. The question of planning for Hayek is whether for the purpose of planning it is better for the holder of coercive power should limit their actions to creating the best conditions for the knowledge and initiative of individuals are given the best possibility so that they can plan the success of society. Or is the rational utilization of our resources requires central direction and organization of all our activities according to some consciously constructed Blueprint. (14) The socialists of the world have determined the use of the latter understanding of planning. It is important for Hayek that one does not confuse his opposition of central planning with a dogmatic laissez faire attitude. His argument is in favour of making the best possible use of the forces of competition as a means of coordinating human efforts, and is not an argument for just leaving things as they are. Hayek’s conviction is that where effective competition can be created, it is the best way of guiding individual efforts. He does not deny but even emphasizes that in order to for competition to work, there is the need for a while thought-out legal system. In addition to this he recognizes that past laws are not free from having defects. Nor does he dismiss, where it is impossible to create the conditions to make competition work, society has to resort to guiding some economic activity. He does stress however, that the superiority of competition in most circumstances is the most efficient method known and more importantly because it is the only method that can adjust our activities to each other without the coercive or arbitrary intervention of authority. Hayek stress the necessity that all involved in a free market must be free to sell and buy at any price which they can find another to transact with. Also, anybody should be free to produ...
