David Mamet’s Revelation

“My revelation came upon reading Friedrich Hayek’s The Road to Serfdom. It was that there is a cost to everything ..”

~ David Mamet

From David Mamet’s new book, The Secret Knowledge: On the Dismantling of American Culture.

Here are some other good books on intellectuals, the American left, and disaffection from life among the . . . → Read More: David Mamet’s Revelation

The State Dept. taps clueless lefty reporter to brief foreign journalists on the Tea Party movement

Kate Zernike, the NY Times reporter who describes “the rule of law” as the weird invention of an obscure thinker named Friedrich Hayek, was invited by the State Department for a foreign press corp briefing on the “extremist” nature of the Americans involved in the Tea Party movement.

Kling on the American Ruling Class

The additional power that is being granted to experts under the Obama administration is striking. The administration has appointed “czars” to bring expertise to bear outside of the traditional cabinet positions. Congress has enacted sweeping legislation in health care and finance, and Democratic leaders have equally ambitious agendas that envision placing greater trust in experts . . . → Read More: Kling on the American Ruling Class

The most talked about read of the summer

Angelo Codevilla on America’s Ruling Class.

YouTube: Robert Bork & Hayek on The Intellectuals

Transcript:

BORK: Doctor Hayek, I think that if there’s one area in which I disagree with you slightly, it is about — We were discussing the intellectuals, and I guess it is that I see something a little more sinister about them [laughter] than you do. Isn’t it significant that, as you watch the . . . → Read More: YouTube: Robert Bork & Hayek on The Intellectuals

Russ Roberts — Government Pathology Powered The Housing Finance Trainwreck

Non-pathological markets require non-pathological institutions — and America has neither as Russ Roberts explains.

Note well:  Hayekian analysts were pointing to many of these pathologies and others before the crisis hit.   Non-pathological markets also require a non-pathological class of regulatory, political, and scientific elites.  Institutions won’t change until the intellectual and moral pathology of . . . → Read More: Russ Roberts — Government Pathology Powered The Housing Finance Trainwreck

Interview — Russ Roberts on the Keynes / Hayek Rap Video

Glenn Reynolds talks public domain economics and rap video with George Mason economist Russ Roberts:

Justin Fox — More B*llsh*t On Hayek

The second-hand dealers in ideas constantly make a hash of things.  Justin Fox is a multi-time offender when it comes to spreading falsehoods about Hayek’s economics, and his latest is to get Hayek’s post-bust economics all wrong.  Hayek explicitly opposed allowing a secondary-deflationary downward spiral and he explicitly endorsed efforts by the central bank and . . . → Read More: Justin Fox — More B*llsh*t On Hayek

bs: Hayek on John Kenneth Galbraith, Journalism & B*llsh*t

Hayek spent some time thinking about the role of intellectuals and other “second hand dealers in ideas” (see, for example, Hayek’s essay “The Intellectuals and Socialism” (pdf)).  Here from the 1978 UCLA oral history, Hayek discusses the problem of b*llsh*t in the context of journalism and the work of economic popularizers like John Kenneth Galbraith.  . . . → Read More: bs: Hayek on John Kenneth Galbraith, Journalism & B*llsh*t

radio: Rush Limbaugh on Brooks, Hayek & Obama

Quotable:

It’s puzzling, because these people are smart.  Friedrich von Hayek, one of my most admired people, an economist, among the places he taught was the University of Chicago.  He was a free market capitalist.  His Road to Serfdom, great book.  The Constitution of Liberty is a great book.  George Will asked Friedrich Von Hayek . . . → Read More: radio: Rush Limbaugh on Brooks, Hayek & Obama

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Random Quote

It is not so well known that it [Keynes's and my own Hayek-inspired move from thinking in terms of price-levels and the rate of interest to thinking in terms of inputs and outputs] is matched by a movement from Hayek to Harrod. I once asked Harrod what had put him on to the construction of his so-call ‘dynamic’ theory; he said, to my surprise, that it was thinking about Hayek. — John Hicks

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