Quote:
Originally Posted by TheAxiom
Quote:
Originally Posted by Biorin
I know you're not a Hayek fan, but one of my favorite quotes from him is something to the effect of "the curious task of economics is to show us how little we really know about what we imagine we can design." That's why I'm a fan of Austrian economics - it takes the fact that human behavior does not always follow rational and logical patterns into account. Of course, the solution to this, for them, is to minimize government creation of programs that are designed based on certain assumptions of behaviors and economics.
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I have little respect for economics because it isn't a true science and Hayek doesn't really take human nature in account. It assumes that there is a rational reason behind all decisions, information symmetry and that somehow the mysterious force called the market will make a benevolent decision that will piss prosperity on everyone.
So their answer is "leave things to their own devices and it will figure itself out" just really ignores the reality of the struggles people face daily. Can't agree. |
He absolutely did consider it, and said that studying the market was studying the relationship between a number of people.
It's not a mysterious benevolent force. People tend to act in their own interests. I believe that if you take that into account and act accordingly, rather than creating programs because everyone loves each other and wants to help and there are puppies and unicorns running through the fields, you will achieve optimal results.