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“The General Theory was published in 1936 and Hayek decided not to respond directly. In making this decision, Hayek committed what many defenders of the free market system consider to be one of the major tactical errors of this century.”
Philosophy and MethodologyPolitical Theory
Hurting innocents is never okay, but apologists for the bombing of Hiroshima and other state atrocities find this "purist" position inconvenient.
Big GovernmentDecentralization and SecessionPolitical Theory
It appears that 2020 may be the year that finally proves that the façade of democracy is not enough to maintain a unified political body.
Booms and BustsMoney and Banks
Even if the central bank were to be successful in preventing the fall of the money stock, this would not be able to prevent a depression if the pool of real savings is declining.
CapitalismMedia and CultureWorld History
"While many academics in the developing world view economics as a zero-sum game, I never entertained the argument that wealth is necessarily due to exploitation."
U.S. HistoryWorld History
Romanticizing the history of nonwhites to portray them as saints is dehumanizing.
Book ReviewsMoney and Banks
We face a blowback “fueled by years of US imperialistic and lawless behavior around the world, and finally triggered by a critical mass of resentment of the US."
Kenneth Arrow showed in 1951 that the entire project of social choice theory rested on quicksand.