Wednesday, December 6, 2017

Friedrich Hayek: Misconceptions About Economics

This is a Hayek clip I have never seen before. It's short, only 2 minutes and 45 seconds.


  1. I'm glad that Jordan Peterson's physiological analysis of leftists is becoming popular. Peterson has said that the left is driven by hatred. They don't love the poor and they really don't care about the poor, they just hate the rich and their agenda is nothing but a mask hiding a drive for power.

    Maybe we could teach Peterson ABCT using a similar analysis. I have said for years that the reason Keynesians totally refuse to engage anything about Human Action or the price mechanism is because they cannot bear to think that the solution to most social problems is simply to allow the rabble to go at it in the market. Under such a scenario, there is no role for the "intellectual" (Hayek's term) to play, a state of affairs that the "intellectual's" extremely high sense of self importance and self worth simply cannot tolerate. This analysis would also be co-extensive with Rothbard's analysis of the "Progressive" movement, rule by "experts".

    Except them experts ain't so expert.

  2. Even into his old age, he was so impressive. I hope I can be just half as sharp!