Things that went whizzing by that I want to remember: First: Suppose I wanted to drop a footnote: ‘If my editors would let me, here I would also trace the current of 20th-century thought and action for which Michael Polanyi, born in 1891 in Budapest, is a convenient marker: how society needs not just the decentralized mercenary institution of the market and definitely does not need comprehensive central planning (which can never be more than a fiction), but needs as well decentralized fiduciary institutions, focused on advancing knowledge about theory and practice, in which status is gained by teaching and learning from others...
Hayek on Hayek: An Autobiographical Dialogue (Collected Works of F. A. Hayek, The)" by F. A. Hayek, Stephen Kresge, Leif Wenar and wanted to share this quote with you.
"HAYEK: I would still aim at completely eliminating all direct interference with the market—that all governmental services be clearly done outside the market, including all provision of a minimum floor for people who cannot make an adequate income in the market. [It would then not be] some attempt to control the market process but would be just providing outside the market a flat minimum for everybody. This, of course, means in effect eliminating completely the social justice aspect of it, that is, the deliberate redistribution beyond securing a constant minimum for everybody who cannot earn more than that minimum in the market. All the other services of a welfare state are more a matter of degree, how they are organized. I don’t object to government rendering quite a number of services; I do object to government having any monopoly in any case. As long as only the government can provide them, all right, but there should be a possibility for others trying to do so."
Was pondering your posts on Polanyi and thinking War, Politics, Religion, Art, Science runs head on into the industrial age. Some strange thing is being born and slouching off to wherever.
If central planning cannot effectively manage the economy, then why is central planning used to manage the myriad needs of public welfare tasks? If not, how should public welfare work be managed?
Hayek on Hayek: An Autobiographical Dialogue (Collected Works of F. A. Hayek, The)" by F. A. Hayek, Stephen Kresge, Leif Wenar and wanted to share this quote with you.
"HAYEK: I would still aim at completely eliminating all direct interference with the market—that all governmental services be clearly done outside the market, including all provision of a minimum floor for people who cannot make an adequate income in the market. [It would then not be] some attempt to control the market process but would be just providing outside the market a flat minimum for everybody. This, of course, means in effect eliminating completely the social justice aspect of it, that is, the deliberate redistribution beyond securing a constant minimum for everybody who cannot earn more than that minimum in the market. All the other services of a welfare state are more a matter of degree, how they are organized. I don’t object to government rendering quite a number of services; I do object to government having any monopoly in any case. As long as only the government can provide them, all right, but there should be a possibility for others trying to do so."
Was pondering your posts on Polanyi and thinking War, Politics, Religion, Art, Science runs head on into the industrial age. Some strange thing is being born and slouching off to wherever.
If central planning cannot effectively manage the economy, then why is central planning used to manage the myriad needs of public welfare tasks? If not, how should public welfare work be managed?