It's finally here: Peter Boettke's lecture, hosted by the Austrian Institute.
"Capitalism, Socialism, and Our Future"
@PeterBoettke
https://t.co/GPH82oZJC8
Working from Quebec data, I believe I am reasserting Douglass North's point that productivity growth in shipping was fast pre-steam engine and that primacy of technology is overstated. Institutions, infrastructure, and peace mattered far more than we believe
Capitalism eliminates poverty and hunger, and would similarly eliminate homelessness if the housing market weren’t overregulated and profit-seeking capitalists were free to build more housing in response to rising prices.
“With freedom of trade, Smith saw an opportunity for modernity to inherit and cement the worthy Athenian legacy of rational moral life.” Read @bespokeethics’s essay celebrating the 250th anniversary of “The Wealth of Nations,” on Civitas Outlook. https://t.co/a2gcOxceJ0
If you haven't read Hayek's essay, "The Use of Knowledge in Society," we recommend you read it today.
Here's some commentary on it from six years ago:
https://t.co/64gLKWGc96
If you haven't read Hayek's essay, "The Use of Knowledge in Society," we recommend you read it today.
Here's some commentary on it from six years ago:
https://t.co/64gLKWGc96
“The gains to some producers from tariffs and other restrictions are more than offset by the loss to other producers and especially to consumers in general.”
— Milton Friedman
1. Agreed that econ should be about social scientific inquiry rather than reading sacred texts.
2. Despite that, reading old literature is a useful input for scientific work in econ. @PeterBoettke, @ccoyne1, & Peter Leeson explain why here: https://t.co/pYCBaUM483
“William Roper: “So, now you give the Devil the benefit of law!” Sir Thomas More: “Yes! What would you do? Cut a great road through the law to get after the Devil?” William Roper: “Yes, I'd cut down every law in England to do that!” Sir Thomas More: “Oh? And when the last law was down, and the Devil turned 'round on you, where would you hide, Roper, the laws all being flat? This country is planted thick with laws, from coast to coast, Man's laws, not God's! And if you cut them down, and you're just the man to do it, do you really think you could stand upright in the winds that would blow then? Yes, I'd give the Devil benefit of law, for my own safety's sake!”
“To make the best available knowledge at any given moment the compulsory standard for all future endeavor may well be the most certain way to prevent new knowledge from emerging.”
— Friedrich Hayek
Happy birthday Carl Menger! 🎂
To mark the occasion, revisit Senior Fellow Erwin Dekker’s conversation with Director Tomasz Agencki on the making of "Notes on the Margin" (2024), a full length documentary on the life and legacy of Carl Menger, founder of Austrian economics. https://t.co/zczjOk02d5