Saturday, September 1, 2012

Andrew Jackson — Hayek and Contemporary Neo Liberalism

In short, Hayek strikes me as a classic nineteenth century liberal who should be more closely read by today’s neo liberals.
Thatcher to Hayek: "You want me to be a Whig (liberal). I am a Tory (conservative)." Reported by Hayek

The Progressive Economics Forum
Hayek and Contemporary Neo Liberalism
Andrew Jackson

Debunks the myth of Hayek as either Libertarian or neoliberal with specific reference to The Road to Serfdom.
John Maynard Keynes said of it: "In my opinion it is a grand book...Morally and philosophically I find myself in agreement with virtually the whole of it: and not only in agreement with it, but in deeply moved agreement."[32]Having said that, Keynes did not think Hayek's philosophy was of practical use; this was explained later in the same letter, through the following comment: "What we need therefore, in my opinion, is not a change in our economic programmes, which would only lead in practice to disillusion with the results of your philosophy; but perhaps even the contrary, namely, an enlargement of them. Your greatest danger is the probable practical failure of the application of your philosophy in the United States."[33]
George Orwell responded with both praise and criticism, stating, "in the negative part of Professor Hayek's thesis there is a great deal of truth. It cannot be said too often — at any rate, it is not being said nearly often enough — that collectivism is not inherently democratic, but, on the contrary, gives to a tyrannical minority such powers as the Spanish Inquisitors never dreamt of." Yet he also warned, "[A] return to 'free' competition means for the great mass of people a tyranny probably worse, because more irresponsible, than that of the state."[34]
Wikipedia — The Road to Serfdom

1 comment:

Anonymous said...

Paul Samuelson (2009), "A few remembrances of Friedrich von Hayek (1899–1992)