While the Progressives sought to extend the restraints of political power to economic power, Hayek sought to bring political power to recognize economic realities. This new era of conservatism reaffirmed the genius of the founders of our constitution that dispersed power was best suited for the dispersed knowledge that generated our dynamic economy.
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Kevin Williamson makes an interesting distinction between the welfare state and socialism. from National Review, Camino de Servidumbre There are two ways of thinking about economics: Many progressives (and many right-wing populists) believe that economics is less of a science
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A gem from Kevin Williamson at National Review, Fake Hate Crimes: There are many strands of conservatism and many kinds of conservatives. There are those such as myself whose views are shaped by the epistemic critique of central planning associated with
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Kevin Williamson writes The Unmanageable Man in The National Review. Excerpt: The scientific study of complex adaptive systems such as markets has taken Ludwig von Mises’s philosophical critique of central planning and developed a formidable body of knowledge that suggests
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from Carpe Diem …. are from Ludwig von Mises, writing in Human Action. 1. A man who chooses between drinking a glass of milk and a glass of a solution of potassium cyanide does not choose between two beverages; he chooses
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“Mises argued that under central planning, economic calculation never actually happened because it became de facto impossible—information is dispersed throughout the marketplace, central planners have no way of gathering information about people’s real preferences, and in any event the sheer
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From the Ludwig Von Mises Institute, Outlawing Jobs: The Minimum Wage, by Murray Rothbard: Excerpts: In truth, there is only one way to regard a minimum wage law: it is compulsory unemployment, period. The law says: it is illegal, and therefore
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Mises and Hayek had developed a theory blaming depressions on excessive money creation and overly low interest rates in the preceding boom that led to massive misallocation of capital- or, as Robins put it, “inappropriate investments fostered by wrong expectations.”
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Ludwig von Mises “They have all sold their souls to the devil of easy money. It’s a great comfort to every administration to be able to make its citizens happy by spending. For public opinion will then attribute the spending
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