The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. – F.A. Hayek
Posted in Behavior, Classical Liberalism on Feb 1st, 2012
In all intellectual spheres comes a time when people debate how rigorously one must adhere to the “party line” in order to be considered a true “party member.” On the libertarian side of things, Murray Rothbard was perhaps the most stringent and forceful proponent of pushing ideological purity. Rothbard understood that the world was miles [...]
Posted in Classical Liberalism on Jan 16th, 2012
Here is Jeff Sachs on libertarians: Yet the error of libertarianism lies not in championing liberty, but in championing liberty to the exclusion of all other values. Libertarians hold that individual liberty should never be sacrificed in the pursuit of other values or causes. Compassion, justice, civic responsibility, honesty, decency, humility, respect, and even survival [...]
Posted in Classical Liberalism, Extended Order, You Can't Have it Both Ways on Dec 21st, 2011
We might as well make this an ongoing series as well. Let’s stop and think about why some of the Occupy Wall Streeters are upset. They are upset that working hard and getting an education has not produced a “fair” return for them, and that some folks in society are getting an “unfair” return. Fine, [...]
Posted in Classical Liberalism, Corporatism, Economic Illiteracy, Economics Problems on Dec 8th, 2011
Diligent readers will know that I frequently bang on the idea that we ought to be humble regarding the state of our knowledge and our ability to act on it. But that does not mean, as Hayek correctly pointed out, that economists cannot say anything, about the world. We are well positioned to make what [...]
Posted in Classical Liberalism on Nov 24th, 2011
Today I reprint a piece I put together several years ago. Happy Thanksgiving to all. Four centuries after the celebration of the first Thanksgiving, there is still widespread disagreement about the reason for the Pilgrims’ feast. But whether it was a harvest festival, a strictly religious observance, or a thank you to the local Wampanoag [...]
Posted in Classical Liberalism, Property Rights, Socialism, You Can't Have it Both Ways on Nov 17th, 2011
The concept of human rights is a particularly appealing one for folks on the left. Invoking human rights in an argument is sort of like insinuating that your opponents don’t think human beings matter. It’s a neat rhetorical trick, and it’s tiring. If a progressive, for example argues for nationalized health care, and I push [...]
Posted in Classical Liberalism on Nov 8th, 2011
I find it strange that social justice issues are tied into environmental issues. We’ll post a few times on the meaning of social justice in the coming months. Let’s assume that we know what the heck that means. Let’s inaugurate the series with a simple observation about just who many “green” programs are benefiting and [...]
Posted in Classical Liberalism on Nov 4th, 2011
1. The ever insightful Meghan McArdle. 2. A somewhat whiny observation albeit one that I have to lean in favor of.
Posted in Classical Liberalism on Oct 18th, 2011
In a recent survey of the OWS crowd: Our research shows clearly that the movement doesn’t represent unemployed America and is not ideologically diverse. Rather, it comprises an unrepresentative segment of the electorate that believes in radical redistribution of wealth, civil disobedience and, in some instances, violence. Half (52%) have participated in a political movement [...]
Posted in Classical Liberalism, Methodology on Oct 15th, 2011
The argument from intimidation is healthily employed in polite company. When people learn that I oppose FDA regulation of drugs, it is asserted that I want to see people get sick and die. When people learn that I oppose much of what the EPA does, they assume that I want the rivers to boil over [...]
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