Not to step on Esuric’s turf (this is usually something he says… and he’s absolutely right), but read Prices & Production.
Not to step on Esuric’s turf (this is usually something he says… and he’s absolutely right), but read Prices & Production.
I have. Easily the best work by Hayek I have read. His work on the pricing process has nothing significantly objectionable, and I will certainly give him that. As an economist he has merit, it is as a philosopher and social thinker that he goes awry.
Naturally, this weakest points are what Hayek concentrated on for the entire latter part of his career. Chalk one up for the law of Rothbard.
Good to have you back, Edmund Carlyle.
I don’t know anyone with a worse reputation than the Koch brothers. Most people seem to have an aversion to them. So Cato Institute is pretty much promoting the idea that libertarianism is a form of class warfare. It’s a double standard that George Soros doesn’t have this reputation, except with conservatives, but there you go. It’s a whole other type of bad PR than what you get from hacks like Bob Barr and Wayne Allen Root.