Understanding the Crisis

Marius Gustavson explains how Hayekian macro helps.

YouTube — William White, Bruce Caldwell, Alex Leijonhufvud & Tony Lawson at the Soros Conference

Hayekian economists confront the economics profession at the inaugural conference of The Institute for New Economic Theory at Cambridge:

William White’s written paper is here.

Bruce Caldwell’s written text is here. (Note that Caldwell misrepresents Hayek’s economics when he claims that Hayek opposed post-bust counter-deflationary policies — Hayek endorsed these as early as . . . → Read More: YouTube — William White, Bruce Caldwell, Alex Leijonhufvud & Tony Lawson at the Soros Conference

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

Hayek, 1979

Edwin McClellan

The story of the U. of Chicago graduate student who became Hayek’s English language re-write man:

While studying the works of people like Mill, de Tocqueville, and Joyce under Hayek and other leading thinkers and scholars of the era, [Edwin McClellan] realized it was time for him to choose a subject for his dissertation. After . . . → Read More: Edwin McClellan

A Lecture for Our Time

Gerald O’Driscoll takes a look at Hayek’s “The Pretence of Knowledge”.

Hayek vs Friedman: The Tale of the Tape

Get ready to rumble — Charles Rowley takes the measure of Friedrich Hayek and Milton Friedman:

For an economist to make a real impact, in my opinion, four ingredients are necessary.  The first ingredient is genius, the ability to see through the fog of a complex world and identify new insights of true significance for the discipline. The . . . → Read More: Hayek vs Friedman: The Tale of the Tape

Philosopher Ronald White on The Road to Serfdom

An ethics professor looks at Hayek’s bestselling classic — Part 1, Part 2, and Continuing.

The Decline & Fall of the Chicago School of Economics

Charles Rowley on the unfolding tragedy — Intro, Part 1 and continuing.

Barack Obama — A Semantic Investigation

Jonah Golberg on the Orwellian linguistic politics of Barack Obama and his fellow neosocialists:

There was little prospect, Hayek wrote, of America or the Western democracies deliberately embracing what he called the “hot socialism” of the Soviets. “Yet though hot socialism is probably a thing of the past,” he wrote in the preface of the . . . → Read More: Barack Obama — A Semantic Investigation

Arnold Kling on the Mainstream Leftist Consensus

Is the debate over expanding government settled?  In Kling’s estimation, not likely:

one can make a case that recent decades have vindicated Hayek more than Keynes, Galbraith, or any other icon of the left .. The problem with those who have decided to aim for a more statist society is not just that they have . . . → Read More: Arnold Kling on the Mainstream Leftist Consensus

Antony Flew

An appreciation.  More links here.

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Random Quote

.. that central question of all social sciences: How can the combination of fragments of knowledge existing in different minds bring about results which, if they were to be brought about deliberately, would require a knowledge on the part of the directing mind which no single person can possess? — F. A. Hayek

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