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Quote by Paul Krugman

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Paul Krugman
Paul Krugman

Paul Krugman is a renowned economist known for his contributions to macroeconomic policy and international trade. He won the Nobel Prize in Economics in 1991 and is considered one of the leading figures in the New Keynesian economics school. more

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“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. To the naive mind that can conceive of order only as the product of deliberate arrangement, it may seem absurd that in complex conditions order, and adaptation to the unknown, can be achieved more effectively by decentralizing decisions and that a division of authority will actually extend the possibility of overall order. Yet that decentralization actually leads to more information being taken into account.”

EconomicsSocialismHayek
Book:The Fatal Conceit: The Errors of Socialism
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“With the growth of market individualism comes a corollary desire to look for collective, democratic responses when major dislocations of financial collapse, unemployment, heightened inequality, runaway inflation, and the like occur. The more such dislocations occur, the more powerful and internalized, Hayek insists, neoliberal ideology must become; it must become embedded in the media, in economic talking heads, in law and the jurisprudence of the courts, in government policy, and in the souls of participants. Neoliberal ideology must become a machine or engine that infuses economic life as well as a camera that provides a snapshot of it. That means, in turn, that the impersonal processes of regulation work best if courts, churches, schools, the media, music, localities, electoral politics, legislatures, monetary authorities, and corporate organizations internalize and publicize these norms.”

CritiqueNeoliberalismHayek
Book:The Fragility of Things: Self-Organizing Processes, Neoliberal Fantasies, and Democratic Activism
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“Zwolennicy rynku używają niekiedy argumentu, że korupcja występująca w gospodarce centralnie planowanej niweczy w istocie wszelkie przewagi, które system ten mógłby posiadać. Ci sami dyskutanci nie rozpatrują jednak na ogół wpływu, jaki wywierają standardy moralne na funkcjonowanie gospodarki rynkowej. Nie może nas to dziwić, ponieważ gdyby zajęli się bliżej tą sprawą, to musieliby dojść do przekonania, że ograniczenie jednostkowych egoizmów jest zasadniczym spoiwem społeczeństwa. Zwolennicy Hayka i Miltona Friedmana wierzą, tak samo jak marksiści, iż jedno lekarstwo może zwalczyć wszelkie choroby; własność prywatna i wolny rynek spełniają w ich doktrynie taką samą rolę, jaką w marksizmie pełni kolektywizacja i centralne planowanie. (Maxa Webera olśnienia i pomyłki, ss. 174-175)”

HayekMarksFriedmanGospodarkaCentralne PlanowanieKolektywizacjaLibertarianizmMarksizmMoralnośćśćWolny RynkekWłasność Prywatna
Book:Max Weber's Insights and Errors
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“But if those coming forward with elaborate plans for the “reformation” of society are not really interested in the cause of humanity, what does motivate them? Simply the desire for power: On this point Lewis is in emphatic agreement with both Hayek and Mises. Hayek: “[T]he desire to organize social life according to a single plan itself springs largely from a desire for power.” Mises: “Every dictator plans to rear, raise, feed and train his fellow citizens as the breeder does his cattle. His aim is not to make them happy but to bring them into a condition which renders him, the dictator, happy.”

HumanityHayekDictatorsMises
Author:J.R.Nyquist
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“The everyday practice of what is right is not derived from a rule, not only because the custom is inarticulable /in toto/, but also because a rule not summoned from custom cannot anticipate the unknowable local circumstances under which it might conflict with another rule subsumed within the larger community practice of what is right (69).”

EconomicsHayek
Book:The Property Species: Mine, Yours, and the Human Mind
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“On the more technical kind of economics my advance was impeded by my inadequate knowledge of mathematics which I had never found helpful in my work, even at such times as when I had temporarily mastered the particular techniques required, but felt not to be worth the effort to acquire real competence merely to be able to refute or criticize the work of others—as I now recognize, a serious mistake”

MathematicsHayek
Book:Hayek: A Life, 1899–1950
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