What is the Fatal Conceit?
31 Jan 2015 Leave a comment
in Austrian economics, F.A. Hayek Tags: The fatal conceit
Hayek on why he got his key prediction right in the Road to Serfdom
23 Jan 2015 1 Comment
in Austrian economics, constitutional political economy, F.A. Hayek, liberalism, politics - Australia, politics - New Zealand, politics - USA Tags: Australian Broadcasting Commission (ABC), Monday Conference, Road to Serfdom
This summary by Hayek of the contemporary meaning of socialism in the 1930s and 1940s was relatively accurate.
You must remember that clause 4 of the British Labour Party’s manifesto committing that party to the socialisation of the means of production, distribution and exchange was only dropped relatively recently at the impetus of Tony Blair.
The Australian Labor Party still includes the socialisation of the means of production, distribution and exchange as one of its objectives.
There were stronger divisions in the inter-war labour parties in Britain, Australia and New Zealand about whether the party should be committed to full socialism, Christian socialism or social democracy. It has been forgotten that the labour parties of Britain, Australia and New Zealand had many fall on the socialists within that party.
The Labour Party of Michael Foot in the 1983 British general election ran on a hard left manifesto, with Tony Benn and the Trotskyist entryist group Militant Tendency, which had several MPs, wanting a full socialist agenda in 1980s Britain.
Ludwig von Mises on the economic calculation problem
22 Dec 2014 Leave a comment
in applied price theory, Austrian economics, Ludwig von Mises Tags: economic calculation problem, Ludwig von Mises, market process, The meaning of competition
Israel Kirzner on entrepreneurial alertness as the driving force of the market process
29 Nov 2014 Leave a comment
An organ shortage kills 30 Americans every day. Is it time to pay donors? – The Washington Post
24 Nov 2014 Leave a comment
in applied welfare economics, Austrian economics, health economics Tags: organ donation
via An organ shortage kills 30 Americans every day. Is it time to pay donors? – The Washington Post.
Utopia, you are standing in it! 
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