A primer on Hayekian macro and the current economic crisis, from the author of Meltdown.
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A central theme in The Road to Serfdom is that the interventionist state transforms the character of the people. Mark Steyn puts a highlighter pen to the issue in his autopsy of the Greek collapse. Heres a snip, the whole thing is a treat: When seeking to ingratiate himself with conservative audiences, President Ford liked . . . → Read More: Mark Steyn does Hayek (again)
Tim Harford: A new reality television show, Undercover Boss – which has migrated to the US after airing on Channel 4 last summer – tries to tap into the dissonance between bosses and front-line staff by filming as a senior executive works incognito in the trenches. It is a delicious premise. When bosses must don . . . → Read More: Organizations & the Local Knowledge Problem
Most economists think that macroeconomic disruptions, such as the current recession, can be understood in terms of aggregate indicators such as total employment, the price level, and the money supply. But this view is misleading, particularly in the current economic situation. Worse yet, it misleads us into counterproductive economic policies. .. an economy matches a . . . → Read More: Hayek Lives
Few economists have a sophisticated theoretical education in macroeconometric modeling — many are the equivalent of children playing with a computer game they really don’t understand. Arnold Kling is not one of these. In a series of essays Kling has been sharing a practitioner’s inside view of the lost knowledge of a generation which had . . . → Read More: Arnold Kling on the Pseudo-Science of Macroeconometrics
Kevin Williamson on why “We cannot make intelligent reforms without real prices, because we are blind without them.” HT Michael Cannon.
Glenn Reynolds talks public domain economics and rap video with George Mason economist Russ Roberts:
Bruce Caldwell in the Washington Post: .. Hayek [is] reemerging as a bestselling author. A new edition of Hayek’s seminal book, “The Road to Serfdom,” was published in March 2007 by the University of Chicago Press as part of a series called “The Collected Works of F. A. Hayek,” for which I serve as editor. . . . → Read More: Why _The Road to Serfdom_ is a Bestseller .. Again
Edmund Phelps on “Hayek and the Economics of Capitalism” at the Hayek Institut Jan. 29, 2008:
F. A. Hayek’s The Road to Serfdom has cracked Amazon’s top 100 among all books sold by the retailer. The new “Definitive Edition” has sold 40,000 copies since its release in 2007, in addition to those sold in the “50th Anniversary” paperback “Milton Friedman” edition, which is still in print.
Here is a clip from John Stossel’s show on “The Road To Serfdom” broadcast Thursday night on Fox Business. The show will be re-broadcast Friday night at 10 p.m. Eastern: And here’s a clip of Stossel wrapped in chains promoting the “Serfdom” program on The O’Reilly Factor. Stossel published an accompanied article on . . . → Read More: VIDEO — John Stossel’s “Road to Serfdom”
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