Tag Archive for Hayek

Carney Falls for the Same Trap

Mark Carney Davos 2010

An irony of today’s world is that capitalism is not allowed to operate but yet whenever a problem occurs it is always capitalism’s fault somehow. The most typical example of this is the conventional wisdom today that the recent financial crisis was due to capitalism taking place in the financial world without sufficient regulation. Nothing…

Hayek: Prices, self-interest, altruism and more

Richard Carey has had a prolific week on Libertarian Home and his thoughts on Hayek have proved most popular. His review of the Master’s of Money Hayek profile has drawn some few hundred new faces to Libertarian Home. This is great, because from here these strangers might become aware of the Libertarian meetup at the…

Taking Hayek in vain

Friedrich Hayek portrait

Well, my hopes weren’t high. I made it to the 16th minute of the BBC’s documentary on Friedrich Hayek, before having to switch it off. I challenge anyone to do better than that. What we are dealing with is a documentary formula, into which Hayek’s life and work has been stuffed. The particular formula is…

Why Hayek matters

Friedrich Hayek portrait

This Wednesday 26 September at the St Stephens Club: Dr Eamonn Butler talks to the Adam Smith Institute about the relevance of the ideas of Friedrich Hayek to understanding contemporary economic issues. Dr Butler also seems likely to talk about his book “Friedrich Hayek”, which will be on sale. Many of you will be all…

Hayek’s view of Thatcher and Reagan

© Jay Galvin

The IEA offer a solution to the questions of Hayek’s relationship with Thatcher and Reagan at their lecture of 5 September 2012. Each year during Margaret Thatcher’s premiership she attended the annual IEA lectures in memory of Friedrich Hayek, whose work she greatly admired. While they mostly agreed on the general direction of public policy,…

IEA Occasional Lecture: Hayek v. Keynes

The IEA announcement explains: The great Austrian economist Hayek was the principal defender of the classical policies of Adam Smith and Keynes‘s chief antagonist. The classical model of Adam Smith, his “system of natural liberty,” favoured saving, balanced budgets, sound money (gold standard), free trade and laissez faire. Keynes’s “new” economics sought to turn the classical model…

Hayek Memorial Lecture

This Thursday brings the IEA’s Annual Hayek Memorial Lecture with Professor Elinor Ostrom, speaking on the “Future of the Commons: Beyond Market Failure and Government Regulation.” Wikipedia summarises her work thusly: Ostrom is considered one of the leading scholars in the study of common pool resources (CPR). In particular, Ostrom’s work emphasizes how humans interact…

Is Libertarianism Compatible With a Welfare State?

Friedrich Hayek portrait

The short answer to this question is “No”. The long answer to this question – in summary – is “it depends”. It depends on the circumstances in which a welfare state exists, the aims of the welfare state and the success in achieving those aims. Most who are familiar with libertarianism will likely be aware…

Philip Booth on parallel currencies in the Eurozone

Via the IEA blog, an interesting possible solution to the Eurozone’s woes by Editorial and Programme Director Philip Booth, obviously inspired by Hayek’s Denationalisation of Money (which I really must get round to reading). Money quote (no pun intended!): We should have a simple constitutional change to remove the clause in the EU constitution that requires the…