individualism for the masses!
Henry Hazlitt tells the story of the boy who breaks a store window, as Keynesians stand around and convince themselves it's a productive act. But the story was intended to illustrate an economic fallacy, not provide the intellectual foundation for a Commerce Department model."
B.K. Marcus is an amateur political economist with no formal education in the subject. He works from Charlottesville, Virginia, as an editorial consultant for the Ludwig von Mises Institute. He is no longer a house husband, nor a faculty spouse, but he is still a dilettante, and a layabout, at least in spirit.
"It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a 'dismal science.' But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance."
| Ludwig von Mises: "Polylogism is not a philosophy or an epistemological theory. It is an attitude of narrow-minded fanatics, who cannot imagine that anybody could be more reasonable or more clever than they themselves. Nor is polylogism scientific. It is rather the replacement of reasoning and science by superstitions. It is the characteristic mentality of an age of chaos." - Omnipotent Government |
We are also seeing the complete vindication of the point that Hayek shook the world with in the Road to Serfdom. Writing during World War II when socialism seemed inevitable everywhere, Hayek warned that, in the long run, political and economic freedom go hand in hand. In particular, that "democratic socialism" is a contradiction in terms. A socialist economy will inevitably be dictatorial.
Murray N. Rothbard, |
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