While F.A. Hayek contributed much to the Austrian School of Economics, he also supported the establishment of the welfare state, believing that it was compatible with the rule of law. Ludwig von Mises, however, knew that the welfare state is the ubiquitous slippery slope.
With Europe moving toward conflict in 1938, a number of economists and other intellectuals met in Paris to try to revitalize liberalism. Ludwig von Mises also was there as a lonely voice defending laissez-faire and the free market economy.
While F.A. Hayek contributed much to the Austrian School of Economics, he also supported the establishment of the welfare state, believing that it was compatible with the rule of law. Ludwig von Mises, however, knew that the welfare state is the ubiquitous slippery slope.
While F.A. Hayek was a promoter of liberty, his work nonetheless often failed to acknowledge just how predatory the state really is. Murray Rothbard understood that the real enemy is the predatory state.
While F.A. Hayek was a promoter of liberty, his work nonetheless often failed to acknowledge just how predatory the state really is. Murray Rothbard understood that the real enemy is the predatory state.
While F.A. Hayek saw human ignorance as the basis for what he called spontaneous order, Ludwig von Mises saw human reason as the basis for praxeology.
Mainstream economists often claim that “market failure” is everywhere. However, when one investigates these so-called failures, one has to conclude that government intervention often is behind them.
While F.A. Hayek saw human ignorance as the basis for what he called spontaneous order, Ludwig von Mises saw human reason as the basis for praxeology.
The current population dearth in China, Japan, and the West has somewhat cooled the demand by elites that governments "control population." However, past population control efforts by governments already have created serious consequences for the future.
F.A. Hayek coined the term spontaneous order to point out that the prosperous societies are also societies where people are free to pursue their own goals. The result is, ironically, harmony that cannot come about through central state planning.
