Cass Sunstein begins: With respect to the past and future of regulation, there are two truly indispensable ideas. Unfortunately, they are in serious tension with one another. Potential solutions lie in three reforms, all connected with democracy itself – but perhaps not quite in the way that most people think. The first indispensable idea is …
Cass Sunstein on Regulatory Analysis and the Knowledge Problem Read More »
Not surprisingly, given the title of this blog and the focus of my research, the last video in the series for my history of economic thought course provides an introduction to Hayek and the knowledge problem. [vimeo http://vimeo.com/76456397] Hayek’s work in the 20th century explored a range of ideas, one of the most important of …
History of Thought Course Video: Hayek and the Knowledge Problem Read More »
Lynne Kiesling Today’s Hayek’s birthday, a worthwhile landmark for reflection on his work and why it’s important to read. I assign “The Use of Knowledge in Society” in every class I teach, and I recommend it if you haven’t yet read it. Here Hayek argues that the fundamental economic problem societies face is not the allocation …
Lynne Kiesling I have a new paper that may be of interest to KP readers, since the subject of the paper is the same as the name of this site: Knowledge Problem. I am honored to have been invited to contribute this paper to the forthcoming Oxford Encyclopedia of Austrian Economics (Peter Boettke and Chris …
Lynne Kiesling Alex Tabarrok has an excellent post this morning at Marginal Revolution: David Warsh and Paul Krugman try to write Hayek out of the history of macroeconomics. … It is true that many of Hayek’s specific ideas about business cycles vanished from the mainstream discussion under the Keynesian juggernaut but what Krugman and Warsh miss is that …
Lynne Kiesling Penn Jillette, the taller and more vocal half of the magic performance duo Penn & Teller, has written a lovely and thoughtful essay as a companion to his appearance last night on Piers Morgan’s CNN show. It defies excerpting, so I encourage you to click through and read it in its entirety. His …
Lynne Kiesling Pace Don Boudreaux for my shamelessly copying his “quote of the day” meme … my quote of the day is this striking one from Hayek’s essay “Principles or Expediency” (1971): From the insight that the benefits of civilization rest on the use of more knowledge than can be used in any deliberately concerted …
Quote of the Day: Hayek on Expediency and Freedom Read More »
Michael Giberson Francis Fukuyama’s review of the new edition of F. A. Hayek’s “The Constitution of Liberty” has prompted a small eruption of commentary in the econoblogosphere. (See here and here, for example.) I thought there might be some interest in Sidney Hook’s review of the original edition of “The Constitution of Liberty,” published in the …
Sidney Hook’s 1960 Review of Hayek’s “The Constitution of Liberty” Read More »
Lynne Kiesling Yesterday was F.A. Hayek’s 112th birthday, and as Hayek’s work inspired the name of this blog, and continues to inspire my work every day, I encourage you all to celebrate this anniversary by reading (or re-reading, I hope!) his seminal Use of Knowledge in Society (1945): The peculiar character of the problem of …
Michael Giberson The Sunday New York Times Book Review carried a review by Francis Fukuyama of the new edition of Hayek’s The Constitution of Liberty. The review does Hayek the favor of distinguishing his views from those of a certain recent talk-radio enthusiast. Fukuyama noted that Hayek’s views are more complex than they are usually …
Fukuyama Reviews New Edition of Hayek’s Constitution of Liberty Read More »
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