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“The idea of meritocracy requires a totalitarian state if you are going to take it seriously.” ~ Stephen Davies
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It meant that there was not a clear or distinct governing class, much less a hereditary one.
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The philosophical underpinnings of the Declaration of Independence, therefore, proclaim a self-evident truth of individual liberty and right to honestly acquired property that all men of unbiased reasoning could and should agree with and see as essential to a free, just, and prosperous society.
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The state is the one institution in society that is not legally bound to adhere to the rules that it can legally impose, via the threat of violence, on everyone else within its jurisdiction.
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If you do not want to surrender the term “liberal” to soft collectivism, then speak of individualist liberalism rather than classical liberalism.
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This June marks the 45th anniversary of the revival of the Austrian School of Economics. During the week of June 15-22, 1974, the Institute for Humane Studies brought together about 50 people in South Royalton, Vermont to listen to a series of lectures by three of the leading figures of the, then, existing remnant of the Austrian School. The conference served as a catalyst for the rebirth of Austrian Economics over the following decades.
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When Professor Stiglitz says that his neo-socialism is the only alternative to the failed neo-liberalism of our time, he is merely saying: let me impose upon you the economic planning schemes that I consider the good, fair, and just ones for you, in place of those other command-economy coercers who want to take you down “wrong” collectivist paths compared to mine.
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Far from fighting to supplant a prevailing ideology for our age, “neoliberalism’s” critics appear to be battling a phantasm of their own imagining.
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Money creation was far from excessive in the 1920s. More significant factors leading to the Great Depression include the monetary contraction that began in 1929 and the French repatriation of gold that started in 1927.
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This night he became a preacher of goodness, of civility, of moral strength in the face of struggle. The poetry of it all, and the promise that goodness and decency can prevail, was manifest in the crowds and the city right here, this night, in Budapest. It combined to inspire him to find the fullness of his voice.
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The video AIER is putting together with the highest professional standards seeks to present both their views fairly and accurately but in a way that it is entertaining and informative. It will inspire further study and a real dedication to ideas.
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Because economics is more complex than most of what’s studied in the natural sciences, no set of rules of inquiry will ever fully eliminate the need for judgment calls by the researcher. And judgment calls are where our biases truly have teeth.
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