By Lawrence W. Reed Born in Vienna on this date (May 8) in 1899, Austrian economist and political philosopher Friedrich August von Hayek lived to see almost the entirety of the 20th Century. He won a Nobel Prize for Economics in 1974 and died in 1992 at the age of 92. The 20th was perhaps the most collectivist century since the Incan Empire of the 16th—a tragic irony … [Read more...] about F.A. Hayek on “the Supreme Rule” That Separates Collectivism From Individualism
By Nicholas Baum When we normally think of the “political spectrum,” we picture a linear scale extending in opposite directions. The left side we think of as “liberal” or “progressive,” and the right side we consider “conservative.” We like to use this one dimensional map as a way of comparing and contrasting different ideologies and beliefs, simplifying the complexities … [Read more...] about Is Individualism vs. Collectivism the New Left vs. Right?
By Donald J. Boudreaux Among the most important advances in the social sciences of the 20th century is Kenneth Arrow’s Impossibility Theorem. The full explanation of this theorem first appeared in Arrow’s 1951 book, Social Choice and Individual Values. As explanations go, this one is especially beautiful in its rigor, yet highly technical and inaccessible to the general … [Read more...] about There Is No Such Thing as “The People”
By Lawrence W. Reed If it’s a coincidence that “individual” begins with a letter that’s also a closely associated word, it’s a happy one indeed. Individual and I are inseparable. “I” is the pronoun used to refer to oneself as the speaker, writer, thinker, or actor. Without exception, “I” is an individual, not a group or a collective of any sort. This fact is worth endless … [Read more...] about I, Individual: Why the Individual Should Be Celebrated
By Richard M. Ebeling Social and economic crises, real and imagined, often seem to bring out the most wrongheaded thinking in matters of government policy. Following the 2008 financial crisis and with the fear of “global warming,” there has been a revival in the case for “democratic” socialism. But now its proponents are “out of the closet” with a clear cut and explicit call … [Read more...] about The Case for a Coercive Green New Deal?