Ten Second News

Hayekian Stimulus

If you watch this Hayek vs. Keynes rap again, you’ll notice that very rarely throughout are the two men actually disagreeing with one another. They’re largely talking past one another, with Keynes speaking directly to the issue of recession and recovery, and Hayek speaking more along the lines of central planning, decentralized knowledge and the importance…

A Response to Paul Krugman

by Christopher Carr Nobel Prize winning economist Paul Krugman’s existence in the popular consciousness largely rests on ideological antagonism.  Krugman’s infamous September 2009 New York Times Magazine editorial, “How Did Economists Get It So Wrong?“, attacking University of Chicago’s John Cochrane and others, was the “Hit Em Up” of economic policy debate. “How Did Economists Get…

Markets in everything ctd.

I think Jason and I disagree less than his critique of my post would suggest.  He is correct that my rather brief treatment of markets (and the purpose of markets) leaves a great deal to be desired.  I was not intending to write a piece explaining the many benefits (or limitations) of markets per say…

Hayek on Health Insurance

I don’t know how, during the long months of this health insurance debate, this quote from Road To Serfdom slipped my mind, but it certainly bears re-emphasis: “Nor is there any reason why the state should not assist the individuals in providing for those common hazards of life against which, because of their uncertainty, few…