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F. A. Hayek Quotes

Hayek, Friedrich A. (1952). Individualism: True and False, https://economicslearning.net/economic/economics-foundations/economics-thinkers/f-a-hayek/individualism-true-and-false-f-a-hayek/ It is the contention that, by tracing the combined effects of individual...

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Libertarianism Basics

#1 - Non-aggression principle and victimless crimes “How would a libertarian society address drug addiction, public services, caring for the poor, or reckless businesses? #2 - Free-market economics - libertarians prefer laissez-faire capitalism over government...

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Machiavelli: On Change

“It must be remembered that there is nothing more difficult to plan, more doubtful of success, nor more dangerous to manage than a new system. For the initiator has the enmity of all who would profit by the preservation of the old institution and merely lukewarm...

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Hayek on Health Care

Hayek on Health Care and Other Social Safety Nets This lesson is on how Hayek views Health Care and other Social Safety Nets. The following passage is taken from The Road to Serfdom, Text and Documents, The Definitive Edition, by F. A. Hayek, edited by Bruce Caldwell,...

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Fractal Markets Theory

Fundamentals Of Fractal Markets Theory< In the wake of the 2008 financial crisis, many have challenged the dominant economic theories and perspectives on markets. The Efficient Market Hypothesis (EMH) in particular has fallen short in explaining the crisis. According...

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I, Pencil

The activities for Economics in One Day are developed around the themes of Leonard E. Read’s classic essay, ‘‘I, Pencil.’’ ARTICLE: I, Pencil: My Family Tree - Leonard Reed (FEE.org) [http://at.fee.org/1yAq6Jf] ‘‘Not a single person in the world knows all the...

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Henry Ford and the $5 wage

He says Ford proved that higher wages led to more productivity, which in turn was good for business. That positive feedback loop gave rise to a broad, prosperous middle class. But over the years, waves of economic pressures and political changes have broken that link....

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Fractal Politics

Fractal Politics “The rise of fractal politics” was first submitted to the Nine Dots Prize in response to the question, “Are digital technologies making politics impossible?” The essay was written as a thought piece prior to the announcement of the 2017 UK General...

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Ernst Friedrich Schumacher

Ernst Friedrich Schumacher (16 August 1911 – 4 September 1977) was a German-British statistician and economist who is best known for his proposals for human-scale, decentralised and appropriate technologies.[1] He served as Chief Economic Advisor to the British...

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Adam Smith – Wealth of Nations

The Condensed Wealth of Nations and The Incredibly Condensed Theory of Moral Sentiments Eamonn Butler     Contents 1 Introduction 4 2  The Condensed Wealth of Nations 7Book I: Economic efficiency and the factors of production 9Book II: The accumulation of...

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Cartesianism

Cartesianism, the philosophical and scientific traditions derived from the writings of the French philosopher René Descartes (1596–1650). Metaphysically and epistemologically, Cartesianism is a species of rationalism, because Cartesians hold that knowledge—indeed,...

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Individualism: True and False | F. A. Hayek

According to Hayek, there are two opposing ideas about how to understand individuals and the society in which they live: true individualism and false individualism. These ideas permeate all social and political thought. They apply to beliefs about reason and knowledge, economics, justice, equality, power, tradition, marriage and family, and government.

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