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Home / Tag Archives: Curious Task

Tag Archives: Curious Task

Quotation of the Day…

… is from page 410 of the 2014 collection, The Market and Other Orders (Bruce Caldwell, ed.), of some of F.A. Hayek’s essays on spontaneous-ordering forces; specifically, it’s from Hayek’s previously unpublished 1961 lecture at the University of Virginia “Economics and Technology,” which is the third of four lectures that Hayek delivered in UVA’s Newcomb Hall during the Spring 1961 semester; the title of this lecture series by Hayek is “A New Look at Economic Theory”: Where we want to...

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Quotation of the Day…

… is from page 236 of Roger Koppl’s superb 2018 book, Expert Failure (link added): Imposed knowledge cannot grow and change as freely or rapidly as synecological knowledge. In other words, it cannot grow or change as freely or rapidly as the divided knowledge emergent from an ecology of interacting, dispersed, and autonomous knowers. Imposed knowledge becomes dogma and thus deeply “unscientific” if, at least, “science” means open inquiry. Thus, apoplectic appeals to “science” in defense...

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Quotation of the Day…

… is from page 226 of the late Harold Demsetz’s 1969 paper “Perfect Competition, Regulation, and the Stock Market” as this paper is reprinted in volume II of the 1989 collection of some of Demsetz’s most important works, Efficiency, Competition, and Policy: Complete absence of imperfections is consistent with efficiency only if the cost of accomplishing this objective is zero. Comments

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Quotation of the Day…

… is from pages 406-407 of the 2014 collection, The Market and Other Orders (Bruce Caldwell, ed.), of some of F.A. Hayek’s essays on spontaneous-ordering forces; specifically, it’s from Hayek’s previously unpublished 1961 lecture at the University of Virginia “Economics and Technology,” which is the third of four lectures that Hayek delivered in UVA’s Newcomb Hall during the Spring 1961 semester; the title of this lecture series by Hayek is “A New Look at Economic Theory” (original...

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Quotation of the Day…

… is from page 60 of the May 9th, 2020, draft of the forthcoming monograph from Deirdre McCloskey and Alberto Mingardi, The Illiberal and Anti-Entrepreneurial State of Mariana Mazzucato: Driving across town to the Exact Perfection Store, with the economists Mariana Mazzucato and Richard Thaler shouting urgent utopian suggestions from the back seat, has since 1848 led to consequences we don’t need. It yielded in Europe and its imitators the excesses of nationalism, socialism, and, God...

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Quotation of the Day…

… is from page 5 of the 1999 Liberty Fund edition of James M. Buchanan’s and Gordon Tullock’s seminal 1962 book, The Calculus of Consent: Economic theory does not explain the organization of private choices sufficiently to enable the professional economist to predict the precise composition of the national product, the exchange ratio between any two goods or services, or the price of any one good in terms of money. Such predictions would require omniscience, not science, because we must...

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Quotation of the Day…

… is from my colleagues Peter Boettke’s and Virgil Storr’s Foreword to the 2015 Mercatus Center edition of the late Don Lavoie’s insightful 1985 book Rivalry and Central Planning: Central planners in a socialist society simply lack the tools that they need to do their jobs. Absent private ownership of the means of production, there can be no market for the means of production. If there is no rivalry over the means of production, no money prices that reflect relative scarcities will...

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More Trump Trade Inconsistency

Here’s a letter to the Washington Post: Editor: Pres. Trump, wishing to punish the Chinese for the covid-19 pandemic, is “demanding billions in compensation” from them (“U.S. officials crafting retaliatory actions against China over coronavirus as President Trump fumes,” May 1.) Whether or not such punishment is justified, I can’t help but laugh at the hilarious inconsistency in Trump’s policy positions. Having long complained that we Americans are harmed by the Chinese selling to us...

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Quotation of the Day…

… is from page 305 of Vol. 19 (Ideas, Persons, and Events [2001]) of The Collected Works of James M. Buchanan; specifically, it’s from Jim’s 1990 paper “The Potential for Politics after Socialism”: Many modern scientists, secure in their own achievement of genuine discovery of new laws of the workings of the physical universe, and observing first hand the extension of humankind’s mastery as these laws are applied, exhibit a natural proclivity to attribute what seem to be flaws in the...

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