Tag: Hayek

Covid Reading

I’m in the midst of recovering from covid—my family and I were hit with it two weeks ago—and doing a fair amount of reading. Just prior to getting sick, I had completed a long piece on oligarchy and the Constitution, which is actually the fourth in a series of pieces I’ve completed over the last few months that I expect to appear in print this summer. (The other three are on Adam Smith, John Maynard Keynes, and the idea of late capitalism.) The combination of being sick, and finishing those pieces, left me with time and energy for little more than resting in bed and reading. So that’s what I’ve been doing. Here is what I’ve been reading or re-reading: […]

2019 In Writing

I did a lot of writing this year. This is a brief list of some of my favorites. My book, The Enigma of Clarence Thomas, came out. It got some pretty great reviews. You should buy it. I began writing for The New Yorker Online, which has been a joy. My first piece was on political converts, men and women who make the journey from one ideology to another, and why the move from left to right has mattered more, over the course of the last century, than the move from right to left. My second piece was on Eric Hobsbawm, a Communist and a historian, and how his failure at the first made possible his success at the second. […]

Do You Believe in Life After Hayek

Sorry about the title; advertisements for The Cher Show are all over New York these days, so the song is in my head. Anyway… In the Boston Review, the left economists Suresh Naidu, Dani Rodrick, and Gabriel Zucman offer an excellent manifesto of sorts for a new progressive economic agenda. I was asked to respond, and in a move that surprised me, I wound up returning to Hayek to see what we on the left might learn from him and his achievement. Here’s a snippet: Far from resting neoliberalism on the authority of the natural sciences or mathematics (forms of inquiry Hayek and Mises sought to distance their work from) or on the technical knowledge of economists (as Naidu and […]

From the Lefty Profs Use Lefty Buzzwords to Break Strikes Department

Like thousands of students in Quebec, McGill’s Women’s and Sexual Diversity Studies Student’s Association are striking against austerity. They spoke about the strike to the professors at McGill’s Institute for Gender, Sexuality and Feminist Studies. Instead of offering their support or simply remaining neutral, the students write in a letter published by The New Inquiry, the faculty condemned the students for our organizing, our strategies, our tactics, our politics generally, and our commitment to feminist values. We were told that pickets are violent, that we made the WSSA General Assembly a site of intimidation and bullying, and that our mobilization has no impact because it is poorly thought out. We were told, repeatedly, that our strike mandate and our strategy of […]

Classical Liberalism ≠ Libertarianism, Vol. 2

Antoine Louis Claude Destutt de Tracy,  A Treatise on Political Economy (1817): The truly sterile class is that of the idle, who do nothing but live, nobly as it is termed, on the products of labours executed before their time, whether these products are realised in landed estates which they lease, that is to say which they hire to a labourer, or that they consist in money or effects which they lend for a premium, which is still a hireling.—These are the true drones of the hive… … Luxury, exaggerated and superfluous consumption, is therefore never good for any thing, economically speaking. It can only have an indirect utility. Which is by ruining the rich, to take from the hands […]

Tyler Cowen is one of Nietzsche’s Marginal Children

Tyler Cowen reviews Thomas Piketty: Piketty fears the stasis and sluggishness of the rentier, but what might appear to be static blocks of wealth have done a great deal to boost dynamic productivity. Piketty’s own book was published by the Belknap Press imprint of Harvard University Press, which received its initial funding in the form of a 1949 bequest from Waldron Phoenix Belknap, Jr., an architect and art historian who inherited a good deal of money from his father, a vice president of Bankers Trust. (The imprint’s funds were later supplemented by a grant from Belknap’s mother.) And consider Piketty’s native France, where the scores of artists who relied on bequests or family support to further their careers included painters […]

If you’re getting lessons in democracy from Margaret Thatcher, you’re doing it wrong

Here’s a photo of a letter Margaret Thatcher sent to Friedrich von Hayek on February 17, 1982, in which she draws a comparison between Britain and Pinochet’s Chile.  I wrote about the letter in chapter 2 of The Reactionary Mind. It now turns out, according to Hayek scholar Bruce Caldwell, that there is no No one has yet to discover—not in the Hayek or the Thatcher archives—a preceding letter from Hayek to Thatcher, even though, as many of us have wondered about this letter before.assumed. So we don’t know what exactly it was that Hayek said that elicited this response from Thatcher. Hayek scholar Bruce Caldwell speculates, in an email to John Quiggin that I was copied on, that Thatcher […]

Talking about Nietzsche and the Austrians

On Bloggingheads, Mike Konczal and I talk about Nietzsche, the Austrians, and neoliberalism. I explain the weird ways in which Hayek’s view of judging mirrors America’s belated feudalism, how my thinking about the Austrians has changed, why academic theorists and leftists wrongly elevate Strauss and Schmitt above Hayek and Mises, and how we might think about neoliberalism differently. Unfortunately I can’t seem to embed the video here, so you’ll have to click on the link and watch it over at the BH site.

If Reagan Were Pinochet…Sigh

While I have your attention, I want to highlight two dimensions of that 1981 Mont Pelerin Society (MPS) meeting in Pinochet’s Chile that Hayek helped organize. You can read about the whole affair here: I encourage you to do so; the devil, ahem, really is in the details. But two points stand out for me. The first is how hard the meeting’s organizers worked to transmit the notion that the ideas of Hayek and Milton Friedman had found a home in Pinochet’s Chile. One of the ways they did so was by seamlessly interweaving the distinctive vocabulary of Hayek and Friedman into their accounts of Pinochet. Pedro Ibáñez, one of the original organizers, told the attendees that with the election […]

Nietzsche, Hayek, and the Austrians: A Reply to My Critics

My article “Nietzsche’s Marginal Children” has provoked much criticism, some of it quite hostile. (Here’s a complete list of the responses I’ve received.) The criticism focuses on four issues: the connection between Nietzsche and Austrian economists such as Ludwig von Mises and Friedrich von Hayek; the question of Hayek’s elitism; the relationship between economic and non-economic value; and the relationship between Hayek and Pinochet. I address three of these criticisms here—a separate post on Hayek and Pinochet follows—but first let me restate the argument of the piece and explain why I wrote it. “Nietzsche’s Marginal Children” juxtaposes Nietzsche’s critique of the idea of objective value with the turn to subjective theories of value in economics, first among the early marginalists […]

The Leopold and Loeb of Modern Libertarianism

“Nathan Leopold is not the only boy who has read Nietzsche.” So said Clarence Darrow at the trial of Leopold and Loeb, the two University of Chicago law students who had murdered young Bobby Franks for no other reason than to prove that they were Nietzschean Supermen who could. When I’m feeling mischievous, I think of using that line as an epigraph for an essay on Nietzsche and libertarianism. How many teenage boys, after all, have found their way into the free market via Nietzsche? None, one insider tells me; a lot, says another. My impression is that the latter is right, but good data is hard to come by. Every ten years, Liberty Magazine polls its readers about their […]

The Idle Rich and the Working Stiff: Nietzche von Hayek on Capital v. Labor

Nietzsche, Human, All Too Human: Culture and caste.—A higher culture can come into existence only when there are two different castes in society: that of the workers and that of the idle, of those capable of true leisure; or, expressed more vigorously: the caste compelled to work and the caste that works if it wants to….the caste of the idle is the more capable of suffering and suffers more, its enjoyment of existence is less, its task heavier. (§439) … My utopia.—In a better ordering of society the heavy work and exigencies of life will be apportioned to him who suffers least as a consequence of them, that is to say to the most insensible, and thus step by step […]

Nietzsche, the Jews, and other obsessions

As I mentioned a few weeks back, I now have a Tumblr, where I post the short and sweet. Some themes seem to be emerging there, so I thought I might share them here.  One has to do with Nietzsche, the other with all things Jewish (Israel, the Holocaust, etc.) On Nietzsche, I’ve pursued my ongoing obsession with the relationship between his critique of value and the rise of marginal economics, particularly the Austrian School. One of my underlying questions is how does Nietzsche relate to libertarianism (beyond the fact that an inordinate number of adolescents seem to have cut their teeth on both topics simultaneously), a subject I’m writing about now and hope to be publishing in the near […]

Forced to Choose: Capitalism as Existentialism

I’ve been reading and writing all morning about Hayek, Mises, and Menger. And it occurs to me: the moral secret of capitalism, its existential fundament, is not that we are free to choose but that we are forced to choose. Only when we are confronted with the reality of scarcity, says the Austrian economist, only when we must reckon with the finite resources at our disposal, are we brought face to face with ourselves. In deciding how to deploy those limited resources—whether they be time, money, effort—we’re compelled to answer the great questions of life: What do I value? What do I believe? What do I want in this life, in this world? (“Every man who, in the course of […]

The Koch Brothers Read Hayek

One of the things Hayek disliked about Social Security was that it gave the government—in this case, the agencies responsible for collecting and dispensing Social Security—a ready-made vehicle for the dissemination of propaganda. Particularly propaganda on behalf of Social Security. It confers on the organization a power over minds that is in the same class with the powers of a totalitarian state which has the monopoly of the means of supplying information. As good libertarians, the Koch brothers have naturally read their Hayek. Which is why they do stuff like this. In a voter information packet obtained by In These Times, the Koch Industries corporate leadership informed tens of thousands of employees at its subsidiary, Georgia Pacific, that their livelihood […]

When Hayek Met Pinochet

  In case you missed my five-part series on Hayek in Chile, here are the links: Hayek von Pinochet: In which we learn what our protagonist had to say about one of history’s tyrants. But wait, there’s more: Hayek von Pinochet, Part 2: In which we learn what our protagonist had to say about South Africa and what Ludwig von Mises had to say about fascism. Friedrich del Mar: In which we ask the question: Did Hayek make the decision to convene a meeting of the Mont Pelerin Society in Viña del Mar? The Road to Viña del Mar: In which we answer the question: Did Hayek make the decision to convene a meeting of the Mont Pelerin Society in Viña […]

Viña del Mar: A Veritable International of the Free-Market Counterrevolution

This is the second in a two-part post.  Part 1 is here. • • • • • The 1981 Mont Pelerin Society (MPS) meeting at Viña del Mar was “one of the largest and most successful regional meetings” (p. 1) the MPS had ever held, claimed Eric Brodin, author of an eye-opening report for the MPS newsletter. Two hundred and thirty men and women from 23 countries attended, making it a veritable International of the free-market counterrevolution. It featured such luminaries, as I reported, as James Buchanan, Gordon Tullock, Milton and Rose Friedman, and Reed Irvine. (For a complete list of attendees, which included higher-ups in the Pinochet regime, corporate heads and bankers, and US officials, see pp. 16ff of […]

The Road to Viña del Mar

Who decided to hold the November 1981 meeting of the Mont Pelerin Society (MPS) in Viña del Mar, the Chilean seaside resort city by the sea where the 1973 coup against Allende was planned? Was it Friedrich von Hayek, as I claimed in The Nation and The Reactionary Mind? The short answer is: it’s complicated. And in that complexity we get a glimpse of Hayek’s intimate involvement in the Pinochet experiment and the deep affinities he and his associates saw between his ideas and the regime’s actions. That, at any rate, is what I discovered after a week of digging in the archives of Stanford’s Hoover Institution, where the Hayek and the MPS papers are held. This post is Part […]

Friedrich Del Mar*: More on Hayek, Pinochet, and Chile

In my first post about Hayek and Pinochet, I quoted a statement that I had written in the Nation in 2009 and had repeated in my book The Reactionary Mind: Hayek admired Pinochet’s Chile so much that he decided to hold a meeting of his Mont Pelerin Society in Viña del Mar, the seaside resort where the coup against Allende was planned. The Mont Pelerin Society (MPS) was a group of intellectuals and activists that Hayek helped found after World War II to advance the cause of the free market. In recent years, it has become the subject of some great new scholarship; judging by the fall catalogs it looks likely to be an even hotter topic in the future. […]

But wait, there’s more: Hayek von Pinochet, Part 2

My post last night on Hayek and Pinochet is getting a fair amount of attention. But there’s more to the story that I didn’t include. So here are some additional details. First, though Farrant et al (authors of the excellent article on Hayek and Pinochet that I linked to last night) cite from this letter Hayek wrote to the Times on July 11, 1978, they don’t cite what to my mind is the most remarkable statement in that letter: If Mrs. Thatcher said that free choice is to be exercised more in the market place than in the ballot box, she has merely uttered the truism that the first is indispensable for individual freedom, while the second is not. That […]