Tag Archives: Ayn Rand

@UnlearningEcon lamented the deviations-from-Pangloss framing of neoclassical economics. Normal economic theories take perfection (optimality) as a starting point and ask how real-world “market imperfections” differ from the putative abstract-free-market ideal. (That “the free market” is an abstract ideal can be verified … Continue reading

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Interesting how Austrian economists see themselves: Ludwig von Mises was a genius (obviously) a Man of the Mind — and that’s a good thing “dignified ruthlessness” seriousness … also a good thing … Serious about Reality quoting Ayn Rand is … Continue reading

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The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed, the world is ruled by little else. Practical men, who believe themselves to be quite … Continue reading

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Markets can indeed organize very complex production processes, to an extent that might well seem miraculous to anyone who tried to reason about it in the abstract. But that doesn’t mean that markets are the only, or invariably the best, … Continue reading

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