Trump And Hayek: On The Same Page.

Progressives' goal is the entire reconstruction of society, and their views are a threat to civilization, says Hayek. Conservatives err when they try to maintain their own personal standing within the existing order without resisting this anti-civilizational crusade.

The Fight Continues: Keynes and Hayek on Prices

Selgin explains that Hayek, “believed that the general level of output prices should be allowed to vary in response to changes in factor productivity, falling in response to both anticipated and unanticipated improvements in productivity, and rising in response to any productivity setback."

Liveblogging Mises' Economic Classic, "Liberalism"

Having set a goal to read all the economic classics I never got around to, Mises’ Liberalism was high on my reading list. Utterly exhausted yet intrigued after liveblogging F.A. Hayek’s The Road to Serfdom, I was ready for a change of writing style while still exploring the roots of classical liberalism.

Trump At The Margin: Why The Market Goes Up.

Professor Skousen relates marginal value to investing in the stock market. First, all prices on the stock market are created by a relatively few marginal buyers and sellers. Only a few of them call their broker or click the trade button on their E-Trade dashboard on any given day. Therefore, it takes only a marginal shift in investor sentiment to change the direction or accelerate the movement of stock prices on that day.

This Year, Make a Resolution to Celebrate Failure

Instead of getting bogged down by failure because you were not able to fully cut sugar from your diet or because you failed to visit the gym as often as you had hoped, why not treat your own life like the market and celebrate failure as a tool for growth.

Are You Entrepreneurial? Self-Assess These 8 Attributes.

The emergent technologies of A.I., cloud computing, and global talent and commerce platforms will place increased demands on each of us to define our specialist value, specialist skills and specialist contribution in the interconnected global economy. These are the aptitudes required to meet those demands.

Most Americans Disapprove Of Our Decayed Institutions. (So Let’s Innovate.)

Spontaneous order is the happy result that emerges as the best outcome for all participants when there is no government, no hierarchy, no control and no central direction, just a few general rules that apply to everyone equally. When systems are left to operate under these conditions, order emerges. There's now a process that captures the concept: inverse design.

The Sunk Cost Fallacy and the Price of Foreign Policy

There are innumerable reasons to oppose any continuation or escalation of the American occupation of Afghanistan. But disregarding the most important deterrent, the loss of human life, and even more specifically, innocent civilian life, there is one economic principle that screams out from the text of a recent Trump’s speech on America’s involvement in Afghanistan: The sunk cost fallacy.

Networking And Knowing: What Digital Entrepreneurs Do.

Digital entrepreneurs - "inno-mediaries" - are shaping markets as they create the new ways of developing, diffusing and using knowledge, and new ways to generate and promote innovation. They encourage new innovators to enter into the co-creation of innovation by enabling new practices through the use of diverse resources.

Preface: Why I Chose to Live-Blog The Road to Serfdom

There can be no denying the important role that F.A. Hayek’s The Road to Serfdom has played on the study of free market economics. And while the book is responsible for swaying public opinion and presenting an alternative to centrally planned economies, the book was written in such a way that may be hard for many modern readers to comprehend. And many suspect that Hayek may have actually intended the book to be this way.

The Fight Continues: The Differences between Keynes and Hayek

John Maynard Keynes and F.A. Hayek are two of the most controversial economic figures of the 20th century. Both made huge contributions to the field of economics and both stand in direct opposition to each other, which is one reason why they have presented such a fascinating juxtaposition over the last century.

How a Classic Christmas Movie Can Teach Us about Human Action

As a Millennial, I will admit that I’ve never seen the original Miracle on 34thStreet. However, the 1994 remake of the film holds a special place in my heart. While watching the film again for the first time in almost 15 years, I realized something I had never noticed before: the film is a wonderful lesson in human action and the basic principles of free market economics.

Lessons from the Road to Serfdom

The lessons that can be learned from F.A. Hayek’s The Road to Serfdom are so numerous it would be almost impossible to list them all. But after taking the time to dive into this classic piece of economic literature, I compiled a list of what I consider to be the most important lessons one can learn while strolling down The Road to Serfdom.

The Road to Serfdom Shows Us That What Is past Is Prologue

When I decided to read and live-blog The Road to Serfdom by F.A. Hayek, I will admit I did not fully understand what I had signed up to do. Reading excerpts from the book is one thing, but endeavoring to read the book in its entirety and also write my accompanying thoughts was an entirely different feat altogether.

Hayek Warns of the International Road to Serfdom

In the previous chapter of The Road to Serfdom, F.A. Hayek spelled out his concerns for the problems facing America in the aftermath of WWII. Moving away from discussing domestic policy, in chapter 15, “The Prospects of International Order” Hayek discusses the grave problems associated with global governance.

Hayek Was Right, Welfare Is False Philanthropy at Its Finest

In chapter 14 of The Road to Serfdom, “Material Conditions and Ideal Ends,” Hayek focuses on the path forward now that the Second World War was coming to an end. Specifically, he explains that calling on the state to coercively act in the name of the “greater good” is not a moral act worthy of praise.

Chaos on the Road Is More Orderly Than You Think

To most people, an “anything goes” approach on the road seems crazy, to say the least. And why shouldn’t it? Cars weigh thousands of pounds and once moving at high speeds are essentially large deathtraps all charging towards each other. On its own, this concept is concerning enough without having to imagine what would happen in the absence of all traffic signals. How would cars know when to stop and when to go?

England Inches Down the Road to Serfdom

England, which, as explained in the last chapter, represented the origin of individualist thought, had steadily been heading down a similar road as Germany had in the decades prior to WWII. While it may have taken a different form, when looked at from the perspective of totalitarianism in all things economic, England, as it stood in 1944, had taken swift strides away from liberalism and instead found itself headed in the direction of complete central authority.

Perhaps Liberty Is No Longer The Right Word

Americans just want a better chance of achieving success themselves – they do not want redistributive government policies, they want ones that give everyone a fair shot at success, reflecting bedrock American belief in the individual’s ability to succeed through hard work.

Education Is the State's Greatest Tool for Propaganda

In chapter 10 of The Road to Serfdom, Hayek describes how some of the worst people always end up rising to the top of the political heap. Continuing to touch on this theme in the eleventh chapter, Hayek digs even deeper and discusses the control of information and the very basis of truth in a planned society.

What Uber Can Teach Us about Scarcity and Choice

Every so often, stories of outrageous surge pricing in the ridesharing industry make their way around the internet. As these stories typically go, a rider was shocked upon reaching their final destination to find that they were charged sometimes hundreds of dollars for a trip that might normally cost $20-30.

Individualism Is Win-Win. All The Other Theories Are Zero Sum.

Individualism wants everyone to be free and equally equipped at the beginning, in order to try their best, each in their own way. The market - the voluntary decisions of individuals to exchange goods and services in a win-win exchange - delivers a verdict on which efforts are worthy of reward by customer acceptance. Professor McCloskey calls the outcome of the process "trade-tested betterment".

We Invent New Institutions Every Day. Let The Old Ones Die.

The maturing technologies of cloud computing, cognitive computing, virtual and augmented reality, artificial intelligence, big data analytics, global exchange and logistics platforms can all provide the individual with self-directed, self-resourcing economic power. If the old institutions decay around us, we need not worry, because the new ones are forming and will serve us much better.

"Digital Leninism" Is The High Tech Threat To Individual Freedom.

Here at https//:centerforindividualism.org, we certainly believe that the emerging technologies of cloud computing, global exchange platforms, artificial intelligence and blockchain can augment individual capabilities and release us from collectivism and dependent relationships on governments and corporations. However, we also recognize that, in the hands of bad actors, there are modern technologies that can be employed for the opposite purpose: the subjection of individuals.

Institutions Decay, Technology Advances

Technology is fundamental to new learning strategies. In a sense, technology is the new institution. As the old institution decays, technology advances, responding to the changing needs and preferences of consumers.

Jay-Z: The Great American Entrepreneur

what is particularly fascinating about Shawn “Jay-Z” Carter is that his success was built on the precepts of free market capitalism, without which he would have never risen above the circumstances he was born into.

We're Richer Than We Realize

Government statistics paint an excessively grim picture of what is happening to real wages and the growth of real national income. They overtly downplay increases in quality of life and the ever increasing value offered in the marketplace.
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