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Source link: http://archive.mises.org/11589/a-not-so-radical-guide/

A Not-So-Radical Guide

February 2, 2010 by

Analyzing the American economy through the rosy glasses of a model of “perfect competition,” they are unable to see the brute reality of the military-industrial complex. FULL ARTICLE by Gerald P. O’Driscoll

{ 6 comments }

olmedo miro February 2, 2010 at 9:17 am

ist there a academic critique of socialism by the chicago school???

I think that the problem with the chicago school, is that, outside their popular writings, the chicago school has no serious critique of socialism.

Freidman claimed, in the popular media only, that sometimes being “free to choose” is better than having a government bureaucrat telling you what to do, which is understandable but, it is far from an academic critique.

fakename February 2, 2010 at 9:46 am

“ist there a academic critique of socialism by the chicago school???”

I’m pretty sure the incentives argument is all them. They also might be attached to hayekian knowledge problems but I’m not sure about that last one.

billwald February 2, 2010 at 11:48 am

>For anarchy to work, according to Black, “all members of society must be fairly homogeneous.”

AGREE! I propose to return to the original concept of the Articles of Confederation and dissolve the US into 50 sovereign nations under a mutual defense pact.

What business is it of mine if Utah wants a Mormon government and Alabama wants an SBC government – as long as an adult is permitted to leave and take portable assets with him? The best economic/social system will “win.”

Bill J February 2, 2010 at 5:06 pm

I think what Black was highlighting, which was certainly true in the 1970s, is that people behave collectively when it comes to the basic fact of identity. Always has. Most people are not individualists by nature, and despite ideology, a large majority of the world continues to think and behave collectively, including nearly all ethnic minority groups in the USA and Europe.

Surely America, as late as the 1970s, if not prevented by the Supreme court and federal government, would have uphold all kinds of racial and religious discrimination throughout the 20th century, including with regard to immigration policy.

I guess that is what the economics-minded Black was trying to object to, despite it being deeply rooted in human nature and psychological disposition. While political correctness may reign for a time in certain sub-sections of the world population, the reversion to group identity in political relations is and will remain the norm, unless human nature is changed.

Paul Stephens February 3, 2010 at 10:26 am

A fascinating essay. I was in the same Zeitgeist with many of the same people and controversies. Although I don’t remember this essay, or the name Angus Black (does anyone know who the real author was?), there was a lot of crossover, then, between free market economics, the drug trade, the environmental protection movement, etc. One recalls E.F. Schumacher’s “Small is Beautiful” with a chapter on Buddhist Economics, the reassertion of Native American “7th generation” sustainability arguments (which seemed to argue for increasing value of environmental “goods” over time, rather than discounting the future, as economic theory dictates), etc.
I left UCLA in 1970, and in that Chicago-dominated econ department, there was a single graduate student who had (literally) drunk the kool-aid, and was a full-fledged hippy living in a commune. We became good friends, and that led to my own “dropping out”, with the same experience in the Philosophy Department to which I was transferring.
Stanford was known for promoting entrepreneurial development in the illicit drugs trade, and being a haven for all sorts of futurist projects, most of them anti-capitalistic (like Stewart Brand’s Whole Earth Catalog and its successors – now Brand is pushing nuclear power – heavily subsidized, of course).
It was an amazing time to be alive, and in one’s early 20′s.

Mark H January 9, 2011 at 1:34 am

Speaking of the Whole Earth Catalog, Angus Black was revealed as a pseudonym for Roger Leroy Miller in an interview with Dale Jorgensen in a 1974 CoEvolution quarterly interview. http://wholeearth.com/issue/2004/article/352/the.whole.system.is.out.of.whack!

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