Books - Smith Hayek

Powerful because of wealth versus Powerful because of influence. Iâ€™ll take the former.

Apr 16, 2011

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by

in Books, Economics, Politics, Rent Seeking

Hayek in the Road to Serfdom makes the point that in a socialist economy the only way to advance is through successfully lobbying the government so that your group is accorded greater privileges. If you have the misfortune to belong to a group with little political clout then you are doomed. Even if wealth affords…

Unintended Consequences to the max

Apr 12, 2011

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by

Jeff

in Books, Unintended Consequences

I have several posts on unintended consequences of government policies, starting with one on November 27, 2010. (Click the Unintended Consequences category to see them all.) I just ran across a book that focuses exclusively on this topic and makes the point that some policies don\’t just have minor negative outcomes but actually lead to…

Happy Birthday Wealth of Nations!

Mar 9, 2011

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by

Jeff

in Books, Economics

Today is the 325th birthday of the publishing of Adam Smith\’s An Inquiry into the Nature and Causes of the Wealth of Nations! Join the celebration by listening to Russ Roberts on Cato or reading Mark Skousen on the centrality of the phrase \”the invisible hand\” in Smith\’s thinking (HT Russ Roberts).