The “primacy of politics” over the logic of the economy is repeatedly and categorically demanded. Insofar as such efforts undermine the private property-based power of disposition over the means of production, it is the first step in the direction of the “other socialism.”
Economics is not a zero-sum game. In exchange, both sides always benefit. Exchange is the soul of the market and creates added value, and does so in a way that benefits everyone involved. A plea for economic enlightenment.
In his book “Why Liberalism Failed” Patrick Deneen deals with all varieties of Liberalism. They are the fruit of a false image of man – an assertion which, however, proves to be questionable on closer inspection.
This September marked the 75th anniversary of F.A. Hayek’s pivotal essay “The Use of Knowledge in Society.” It is not only a noteworthy advance in Hayek’s critique of central planning. Hayek’s insights about competition as a ‘discovery procedure’ also provides conceptual tools for other forms of institutional analysis.
The coronavirus crisis has exposed once again the fragility of our debt-based economic system. There are alternatives to this artificial system of the last 70 years. There are ways that we can better incentivize saving, which will create not only more productivity but more robustness.
