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

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Stable monetary conditions require that the stream of money expenditure is the fixed datum to which prices and wages have to adapt themselves, and not the other way around. — F. A. Hayek

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