When socialist Hugo Chávez became Venezuela’s president, it was the wealthiest nation in Latin America. By the time Chávez and his successor, Nicolas Maduro, took over, it was one of the poorest countries on the continent.
Zimbabwe’s honey industry has great potential—as long as they can allow the market to work. There is a history of socialism to overcome.
The proposed California Wealth Tax is promoted as a tool for “social justice,” yet according to the standards set by F.A. Hayek, it undermines the rule of law, not to mention justice itself.
Although F. A. Hayek had many important contributions to economic theory, both Rothbard and Mises had major disagreements with Hayek's book, The Constitution of Liberty because of Hayek's support of public welfare measures.
While socialists complain about AI, at least some believe that it can engage in economic planning, thus bypassing the Hayekian knowledge problem.
Dr. David Gordon examines Hayek's reply to Galbraith, "The Non Sequitur of the 'Dependence Effect,'" showing why the claim that advertising-created wants are less "real" would, taken seriously, dismiss all of civilization.
Dr. Mark Thornton presents Hayek's "Choice in Currency," which diagnoses inflation as an ancient superstition revived by Keynes and proposes a radical remedy — letting people freely choose their money — now finding modern expression in cryptocurrency and the return to gold.
Dr. Jonathan Newman explains Hayek's "The Meaning of Competition," which dismantles the neoclassical "perfect competition" model and recasts competition as a dynamic discovery process.
Dr. Peter Klein walks through Hayek's landmark 1945 essay "The Use of Knowledge in Society," showing how the price system communicates dispersed knowledge and why that makes comprehensive central planning impossible.
Dr. Jonathan Newman presents Hayek's "Why the Worst Get on Top", a critique of socialism distinct from the calculation and knowledge problems — showing that collectivism structurally selects the most ruthless for power.
