
February 4th, 2009 by

bkmarcus
This is my favorite blog post on Mises.org in a while:
It’s Keynes v. Hayek again
February 4, 2009 7:52 AM by Jeffrey Tucker
So says Richard Armey, who is among the many Republicans who are suddenly making sense after years of kowtowing to Republican-style Keynesian policy. It seems like a universal principle: those who are out of power favor free markets more than those in power. So the agenda seems clear: keep everyone out of power.
Amen.
Posted in LvMI, economics, strategy |
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February 4th, 2009 by

bkmarcus
From Ludwig von Mises’s introduction to Human Action:
There are … some naturalists and physicists who censure economics for not being a natural science and not applying the methods and procedures of the laboratory. It is one of the tasks of this treatise to explode the fallacy of such ideas. In these introductory remarks it may be enough to say a few words about their psychological background. It is common with narrow-minded people to reflect upon every respect in which other people differ from themselves. The camel in the fable takes exception to all other animals for not having a hump, and the Ruritanian criticizes the Laputanian for not being a Ruritanian. The research worker in the laboratory considers it as the sole worthy home of inquiry, and differential equations as the only sound method of expressing the results of scientific thought. He is simply incapable of seeing the epistemological problems of human action. For him economics cannot be anything but a kind of mechanics.
Posted in economics, literature, philosophy |
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