Monthly Archives: October 2009

Forbes: Set Dynamite to the Nobel Prize in Economics

Christopher Swann in Forbes: Far from celebrating those who have ‘conferred the greatest benefit on mankind’ as Alfred Nobel intended, the economics prize has done more harm than good. The prize has fostered a faith in economists that is often … Continue reading

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There Shouldn’t Be A Nobel Prize in Economics — F. A. Hayek’s Nobel Banquet Speech

Friedrich Hayek seems to have fully anticipated that one day the Nobel Prize in Economics would be awarded to a mountebank like Paul Krugman.  Hayek’s speech at the Nobel Banquet, December 10, 1974: Now that the Nobel Memorial Prize for … Continue reading

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SEMINAR: Hayek’s _The Road to Serfdom_ (post #4 – Orwell)

Next time we’re going to discuss this: George Orwell wrote a review of Friedrich Hayek’s The Road to Serfdom in  1944 the same year Orwell  “encapsulate[d] the thesis at the heart of his novel”.  It’s clear that Orwell was greatly … Continue reading

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SEMINAR: Hayek’s _The Road to Serfdom_ (post #3)

More from F. A. Hayek’s The Road to Serfdom, chapter 11, “The End of Truth”, p. 171: Although the beliefs [embedded in the social plan] must be chosen for the people and imposed upon them, they must become their beliefs, … Continue reading

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SEMINAR: Hayek’s _The Road to Serfdom_, post #2

F. A. Hayek’s The Road to Serfdom, chapter 11, “The End of Truth”, p. 171 begins: “It is significant that the nationalization of thought has proceeded everywhere pari passu with the nationalization of industry.”  — E. H. Carr The most … Continue reading

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Hoover/Roosevelt FAIL = Bush/Obama FAIL

Charles Rowley: In our monograph, Economic Contractions in the United States: A Failure of Government, Nathanael Smith and I evaluate and categorically reject the hypothesis that a failure of laissez-faire capitalism caused both the Great Depression (1929-39) and the current … Continue reading

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