Spontaneous or Planned: A Sharp Dichotomy, or a Gradient?

by Gene Callahan I am writing a solicited comment for Dan Klein's new book, Knowledge and Coordination: A Liberal Interpretation, for the journal Studies in Emergent Order. This is an especially interesting task for me, as Klein's topic is obviously vital to my preliminary work on social cycles. And Dan is always an intelligent and … Continue reading Spontaneous or Planned: A Sharp Dichotomy, or a Gradient?

Hayek Lecture by Taylor

John Taylor received the Manhattan Institute’s 2012 Hayek prize for his book, First Principles: Five Keys to Restoring America's Prosperity.  In the lecture he gave for the occasion, Professor Taylor argued for rules-based policies—-that would be a real reform. The video of the lecture is on the Manhattan Institute site.   It was also published in … Continue reading Hayek Lecture by Taylor

Euro Crisis from Long Perspective

by Chidem Kurdas The European crisis, in progress for years and still showing no sign of resolution, is largely the result of elite hubris. To create the euro and ram it down the throats of populations that, left to their druthers, would have stayed with their old currencies—this was a massive, top-down social engineering project. … Continue reading Euro Crisis from Long Perspective

Bank Hedges and Social Justice

by  Chidem Kurdas To hedge or not to hedge? That’s the question for many an endeavor. Farmers hedge by selling their harvest ahead of time. Building managers hedge by locking in a price for heating oil or natural gas—last year many got it wrong, blindsided by the decline in the price of gas. Most hedges … Continue reading Bank Hedges and Social Justice