 if you give the right people lots of money they will lead the company to glory.
Well done that man.
Isn’t FEE just another in the world-wide network of free-market think tanks (like Institute of Economic Affairs in the UK), who are totally not connected in any sense whatsoever, in spite of sharing the same free-market cant, abject Hayek worship, and various personnel?
[They don’t worship Hayek, that was part of my point, since they misrepresent him so badly -W]
guthrie writes:”….based on the idea that if you give the right people lots of money they will lead the company to glory”</i
Can you spell G-O-O-G-L-E? 🙂
The Great A.I.Awakening courtesy the NY Times.
Re: Hayek. “If the planning elite possessed omniscience of all facts…”
This is obviously wrong. They only need to know as much as those doing the planning otherwise. I.e., as quoted in the other thread, he believed that only locals (plant managers, shop foremen, etc) could know the intimate details of an operation that those in far off company or country HQs couldn’t possibly know.
With the advent of big data and huge computerized operations, that’s no longer true. In fact, company HQs probably knows more about the local WalMart than anyone working in the physical store location. The same can be said in many industries. Hayek’s main objections have been made largely irrelevant by technology. And becoming more and more irrelevant each day.
We need a Cafe Press mug and T-shirt for that quote:
” in order to make competition work beneficially a carefully thought-out legal framework is required,…”
Once again the weasel has caught a juicy rat.
Who says there’s no such thing as a free …. ebook?
‘Oogled this strig:
“Jeffrey Tucker” (who?) at the Foundation for Economic Education
Jeffrey Tucker is Director of Content for the Foundation for Economic Education. He is also Chief Liberty Officer and founder of Liberty.me,.
You can download his books in epub format for free here (clickety link in original, ‘oogle it)
Hayekianism as practiced by Thatcher, Reagan, the Kochtopus, Grover Norquist, and all bears very little resemblance to what Hayek himself had to say. I found this gem (no, I didn’t get one of his books, it’s on his (long) entry at Wikipedia):
After reading the entire entry, I came away with the impression that he was a realist doing his best.
> They don’t worship Hayek… since they misrepresent him so badly
Those things?almost always/usually/sometimes? go hand-in-hand. Adam Smith gets the same treatment.
“1. It is drivel written by a twat. There: I’ve done my duty and can stop.”
Par for the course at Climate Etc, it fits in with Dr Curry’s FUD agenda. I am impressed that Dr Curry is so anti-science, does she still have that Hurricane Forecasting (I think) business on the side? If so, I wonder what the oil rig owners think of her lack of confidence in science when they evaluate her forecasts?
This Hayek Essay (which is on the FEE site) seems quite interesting. Haven’t read it all, but someone on Twitter highlighted this bit, which seems appropriate..
Although, to be balanced, it’s not just conservatives who reject well-established new knowledge. What particularly struck me was his his recognition that science isn’t free from fads and fashion (which is probably broadly correct) but that you still need rational arguments for rejecting some new scientific understanding.
[Bloody Hayek talking sense again. if only people would read him, rather than reading other people misrepresenting him 🙂 -W]
> if only people would read him …..
Well, I’ve heard speculation Christ wouldn’t sign up as a Christian nowadays.
Nobody wants to be responsible for the consequences of their tactics, whether you call it collateral damage, externalized costs, or friendly fire casualties.
@ Matt
yes I always find it amusing how Adam Smith devotees are so quick to defend various get rich schemes/rent seeking over actual wealth creation
you almost get the impression it is about (economic) power
“Press Release
9”
(please excuse caps: quoted from the Nobel site)
I’m gonna have to make myself a new bumpersticker with that Hayek quote. To go alongside this one:
What, who doesn’t like Comic Sans?
It’s not a real bumper sticker unless it has a DOI – comic sans or not.
“Planning” means two things. It means “command economy and here is our ordering of the commands” or it can mean “planning.” I use the former directly when that’s what I mean to say. It doesn’t confuse.
Cheer up, Kevin-
The Five Year Slow Food Plan will arrive in time for Christmas in Cochibamba
Wassail to my stout namesake, who absent stout, should try the Sierra Nevada Torpedo Double IPA
Merry Christmas to all.
More pertinent to the (closed) thread on geoengineering liability:
“… I was amazed and shocked to find so many engineers and physicists enamored of this idea, and ended up writing down 20 reasons why it might be a bad idea [Robock, 2008]. The hubris of some, who thought that this was just a mechanical or physical problem to solve, and the lack of awareness of the science of climate change and the natural chaotic variability of climate, was very scary. A number of those potential risks were already understood 10 years ago, and were discussed by Crutzen and in the accompanying essays, particularly by MacCracken …”
An example from RC of claims attributed to Hayek being thrown into climate discussion by “nigelj”:
[I’m not sure that’s terribly relevant to climate, but it is basic Hayek, yes -W]
Russell, with some trepidation I got hold of Blue Moon’s odd “cappuccino oatmeal stout” and can report it of exquisite quality, especially from, you know, Blue Moon. (the average shopper might feel similarly as not only is it delicious, it’s on sale!) The chocolate and coffee are not overdone, simply in service to the porter itself.
The opposite of Hayek is Karl Polyani, Michael’s brother. There might be a recent biography.
[Why would you want a biography? I’m not very interested in a Hayek biography. Wouldn’t you rather know what he thought? -W]
PS, more climate-change Randians:
I want a biography so as to establish the ideas in context.
I didn’t state that I want only a biography. Nonetheless, that Hayek and Polyani were contemporaries, and both associated with Vienna, is of considerable interest.
FWIW, recipients of the Econ Nobel receive the award at the same ceremony as the other Nobels.Crows were seen at the larger rainfall retention basin pond here in the development where I live on Oct. 23, 2014. The Crows were hunting for tadpoles, and tasty insects. They were there at the pond along with the Killdeer and Lesser Yellowlegs. I always enjoy watching Crows. Crows are amazing and quite smart! Please click on the thumbnail image to see the larger picture. Enjoy!
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