Abstract
The extent to which the classical liberal theory of freedom defended by Friedrich Hayek can lead us to some original conclusions about social justice has not been sufficiently appreciated. This chapter examines the question of private coercion in market societies. It explains why classical liberals need a strategy to deal with certain problems of private coercion so that markets can be just. The evils of private coercion removed by a social safety net are greater than those that accompany the mild governmental interference necessary to carry out such a net, and therefore, the chapter argues, we must have a basic income guarantee in a liberal polity. This guarantee, moreover, must be unconditional, such that it even covers Malibu surfers who lead a life of self-indulgence.
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