"The basic problem is that there are three Hayeks:the--absolutely brilliant--price-system-as-information-aggregator Hayek. the--absolutely bonkers--business-cycle "liquidationist" Hayek. the--absolutely wrong--social-democracy-is-evil Hayek.The first was a genius. The second was a moron--his could never make his arguments cohere either conceptually or empirically, but he kept doubling down on them and wound up in infinite reputational bankruptcy. The third was wrong--I would say blinded ex ante by ideology, others would say proved wrong ex post by events.The problem is that the modern-day Hayekians are by-and-large uninterested in the good Hayek (1), and interested only in the bad Hayeks (2) and (3)..."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Philosophers from AustriaAcademics from the United KingdomAcademics from AustriaFriedrich HayekEconomists from the United Kingdom
Original Language: English
Available Languages (1)
Sources
J. Bradford DeLong, "Daniel Davies Watches the Hayekian Yahoos Attack the Late Tony Judt" (May 16, 2012)
https://en.wikiquote.org/wiki/Friedrich_Hayek
Revision History
No revisions have been submitted for this quote.
Categories
Friedrich Hayek
Friedrich August von Hayek CH (8 May 1899 – 23 March 1992) was an Austrian, later British, economist and philosopher best known for his defense of [[w:classical liberalism|classical
247 quotes on TrueQuotesView all quotes by Friedrich Hayek →
Related Quotes
"An Acquisitive Society reverences the possession of wealth, as a Functional Society would honour, even in the person …"
"Only at first does it seem paradoxical that the anti-internationalism of conservatism is so frequently associated wit…"
"At Chicago, Hayek put aside his more technical economic work for the development of a social and political theory tha…"
"Life at Cambridge during those war years was to me particularly congenial, and it completed the process of thorough a…"
"If craftsmen and blacksmiths were feared for transforming material substance, if traders were feared for transforming…"
"The most important player on Ronald Reagan's economic team is Ronald Reagan. The person most responsible for creating…"
"The human mind, Hayek says, is not just limited in its ability to synthesize a vast array of concrete facts, it is al…"
"Since only actions aimed at perceived benefit to others were, to Aristotle's mind, morally approved, actions solely f…"
"An evil fate befall German efforts to defend the ideal of liberty in general and in the field of economics in particu…"
"You cannot successfully use your technical knowledge unless you are a fairly educated person, and, in particular, hav…"