The Great Ideas of the Social Sciences

by Gene Callahan Let's take social science broadly, in the sense of German wissenschaft, so that The Republic and Politics and The Social Contract are social science. (I would contend that they are, in fact, often much more scientific than the latest regression study of how detergent use correlates with the suicide rate.) So what, … Continue reading The Great Ideas of the Social Sciences

The Role of the Perverse Elasticity of Credit Money

by Andreas Hoffmann I want to bring a recent comment by Sornette and von der Backe to the attention of the reader (in Nature 471, p. 166, May 2011). Sornette and von der Backe remind us to pay more attention to disequilibria caused by the fractional reserve banking system to explain the emergence of crises. … Continue reading The Role of the Perverse Elasticity of Credit Money

Hayek and Keynes Debating in Wonderland

by Thomas McQuade Here’s what Alice might have recited to the Caterpillar, had Charles Dodgson been a 20th century economist of sorts: You are old, Maynard Keynes, and your theory’s askew, It’s easy for one to see through it – Yet everyone thinks that you’ve said something new. Just how did you manage to do … Continue reading Hayek and Keynes Debating in Wonderland

Further Thoughts on The Sensory Order

by Roger Koppl Over at Austrian Addiction, Dan D'Amico responds to my recent post on The Sensory Order.  Dan wants to know "what Hayek's theory of neuorscience is really adding here that a more basic understanding of subjective preferences does not already imply?"  Dan is not the only one with this question.  I think enthusiasts … Continue reading Further Thoughts on The Sensory Order