Abstract
The purpose of this paper is to clarify the difference between Hayek and Polanyi. I will focus on the government roles in their arguments. They regard the ‘spontaneous order’ as important and criticize the ‘constructivism’. However we can see they are different in the government intervention. Hayek is critical to government intervention. He thinks a human being is ignorant. He suggests we should entrust the market order not the government. In contrast, Polanyi is positive to government intervention to achieve a full employment. He suggests the government should invest in the market by a public loan.
In conclusion, Hayek restricts the intervention of government more strongly than Polanyi. Hayek is cautious with government intervention but Polanyi isn’t because he believes in the human knowledge.
