Arkady's Thoughts

"It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a "dismal science." But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance." - Murray N. Rothbard I am absolutely delighted to see this for several reasons.  First of all, this is really well done in both substance and style.  Second of all, this covers a topic that most Americans know almost nothing about!  Most Americans believe the inner workings of Keynesian, Monetarist or Austrian theories is not a requirement to understand, it becomes a moral imperative when these very same people passionately argue political viewpoints whose basis rests in the very economic theories they are not interested in learning.   So this presents a conundrum, how can we have an educated voting electorate when politics have become so intertwined with economics?...

I have embarked on a new reading adventure The Road to Serfdom by F.A. Hayek arguably one of the most notable and influential of the Austrian economists. I plan to dissect this book very carefully and plan to do so here on this blog, perhaps chapter by chapter. I presume it will serve as a reminder during the reading of a difficult text that I must pay attention. As of now this will be one of the more challenging texts that I have tackled on the matter of politics and economics, although this is still principally a political book. I have also somewhat lost appreciation for Liberal Fascism by Jonah Goldberg as I am seeing far too many parallels between the two works. Although Goldberg's message was that of drawing parallels between modern day liberals and fascists, the underlying message seems to resonate largely from Hayek . While I am still in the early stages of the work, some of the focal messages in the book are those that many of us on the right tend to parrot each and ev...