Saturday, March 26, 2011

30 Minutes with Hayek on Prices as Signals, Social Justice, Inequality,Pollution and Much More


  1. Can you post the URL to this video? For some reason Firefox won't let me play it from the page.

  2. Wenzel,

    Outstanding video, thank you so much for sharing.

    It'd be great if there was a "VH1 Behind the Music"-style documentary of what happened to all of these bright, young liberty luminaries asking Hayek all the questions in this video. These kids were on point and seemed to love and understand freedom and this video looks like it's from the 60s. These "kids" must now all be in their 60s and 70s themselves. I wonder what they did, what they made of themselves, where their love of freedom took them? Did any continue to "lobby" for liberty and work to educate and inform others? How many turned statist, the way a street hoodlum might "turn snitch" for the cops?

    The mind wanders...

  3. What a great post for the weekend! I particularly enjoyed his conversation about primitive societies vs complex ones (at 26:40 or there about). I think this is one of the areas of major misunderstandings by intellectuals and government leaders when it comes to intervention into the market place in today's world where access to information (ie expert opinions) is only a click away. Gone are the days when government could act (intervene) and if it wasn't picked up in the news cycle, no one knew about it. The EU debt crisis is a prefect example of this where the market does not get fooled (for long) by the intervention.

  4. I think Hayek's point about complex economies is partially that these are gymongous self-aggregating machines. No need to compute. It's self regulating BECAUSE it's so comprehensive.
    The answer is baked into the question, if that makes any sense...

  5. @Taylor,
    Excellent question! I was thinking the same thing as I watched their shiny young faces.
    Maybe check the credits on the Bread Machine and start Googling.