I studied Hayek, Mises and Friedman when I majored in Econ. Now, I’m deemed a racist. Why?

Thanks for uploading this. I'd say that i'm left leaning but reading 'The road to serfdom' and listening to this great summary and analysis of the book has definitely helped me to reflect and critique my original beliefs.

I really like your approach to different philosophies. Although I don't agree with Hayek I now have a deeper understanding of his ideas.

You make this unbearable existence just a tad bit better Everytime you make one of these and I'll be forever grateful.

Hayek was the greatest of all Times! A visionary man He was Liberal in that era when people were moving away from it but He was ignored and his name became completely silent but after that.... He saw fall of keynesian economics He won Nobel prize He saw USSR dissolve a year before his death! He got fruit of his patience and hardwork

Great episode. Thank you.

Beautiful exposition. Thank you!

I'm totally convinced

Agree, this should be what we all heer to hear. Come your Guys! IT'W Q

Missing your podcasts podcat! Hope you are OK and well Stephen West.

Excellent upload. I recall Romney mentioning Hayek by name when speaking to a room of potential voters (who remained potential voters lmao)

Woohoo new video

thx

would you do Hans Hermann Hoppe's argumentation ethics that he derived from a combination of Habermas' discourse ethics and Mises' praxeology? or "Marxist and Austrian Class Analysis"? i think either would be really cool ideas to check out!

Strangely enough only in the US the education system is shit. In western & northern Europe nearly 100% of kids are in public schools and top all rankings.

Considering the responses on this video so far... Am I the only one who listens to this and thinks... "Hayek, buddy... You're taking all of the worst flaws of capitalism and are projecting them onto planned economy."?

*The service economy is part of the road To serfdom as we are to “sell ourselves” instead of a product.*

I’ve lived in a neoliberal capitalist society my whole life. I don’t know what else to call it but a “road to serfdom “

Amazing as always! Without saying anything about Hayek’s actual work, I guess Hayek was then the first person to basically say “socialism is when the government does stuff” lol

I'm watching from newest to oldest videos. I have a BA from University of Denver English literature and philosophy. Do you think this is a good strategy for understand the content.

I know it’s not philosophy per se, but could you make a video on Pierre Bourdieu or Frantz Fanon, please?

Do one on Emil Cioran please!

Good piece, as usual - thank you. Hayek was very influential in Margaret Thatcher's policymaking.

Mr. West, another great work. Could i ask you a favor? I am an academic of social and political studies in Brasil, and i consider your vídeos as influential in my work. Could you add the source of your research in the vídeo description from now on? It will be of great value for me and for others! Thank you so much

This is great, sent it to all my socialist friends. 😂

I do love your work, but selfishly wish you would find an illustrator/collaborator to help visualize your points. I especially wish this was so because your way of driving home a point is so accessable to laypersons. Though I can sympathize with the extra work in approving illustrations, say, if someone doesn't understand the term *layperson* and what an animation of that might become. Love your work, you are much appreciated.

🤩

I'd like to buy one of your titanium licence plates!

JA= basic economic argument for freedom of business model is potentially very important legal theme. 10:00m We don't need a centralized planning for the economy. It is a self-organizing system.

If marxists tend to examine history through the lense of class struggles and improvements in the means of productions, etc. libertarians tend to examine history through the lense of inflation. Their philosophy of history can basically be summed up like this : « All wars are inflationnary, therefore no empire can last. The life cycle of an empire is the same as the life cycle of its money. » Furthermore libertarians are not boot-lickers, quite the opposite. Quoting from an article I’ve read recently. « The Fed has always been a scam to cheat the middle classes, but the lesson of income redistribution is less well known than the connections between the Fed and price inflation and the business cycle (which themselves are not widely understood). Even though mainstream economists will sometimes admit of the negative impact of inflation on real wages, few if any are willing to admit that there are beneficiaries as well as losers. Indeed the Fed's low-interest policy not only encourages spending and borrowing, it discourages the one thing that best helps people raise themselves into higher economic classes - saving. Therefore it should be clear that the Fed is systematically working against the interests of the common American. Of course the major beneficiary of the Federal Reserve's inflation is government itself, but, in addition, its policies have driven a wedge into the income scale that greatly favors those at the very top to the disadvantage of all of us below. Its policies of inflating the money supply, keeping interest rates low, and bailing out those who lose in subsequent financial crises have been a big boon for all of those in the upper echelons of banking and finance. Not only has the Fed made their primary input (i.e., credit) cheaper, it has greatly reduced their primary business concern (i.e., risk of loss). This explains the extraordinary profits generated in financial markets. » I think there’s a huge misunderstanding between the two camps (marxists and libertarians). - If you had to read one, just one libertarian article, just to give a try, I’d recommend « War and Inflation » by Llewellyn H. Rockwell Jr. It completely blew my mind. Of course it’s filled with cringey references to socialism = statism and so on, but the meat of it is gold.

And on the subject of language: The Tyranny of Words by Stuart Chase

8:30 *facebook, google, and 10+ others are typing...*

The concerns of Hayek are very relavent to todays situation.

Yes, absolutely, but then there must be a common investment in psychiatry that is not nosological. That. Most individuals are, in fact, using astronomy, as Adorno said, spell bound by economists unlike Hayek, who is an Astrologer.

Sorry I'm not very knowledgeable in this field, but haven't these ideas inspired neoliberalism as we know it? "Competition leads to innovation", "we don't want government to interrupt" etc?

"Propaganda" the title of a book by Edward Bernays?

#Canada and Trudeau

I definitely appreciate hayeks position, but I can't help but think the great accumulation of wealth, in turn creating immensely powerful individuals who can manipulate markets and propagandize themselves, is not materially so different than the concentration of power he fears a government would have over a centrally planned economy.

Philosophize This do a video on the Dark Enlightenment.

As with the Market we need to include in a theoretical equation of the Macro-Economy the influence that the Media has on Government Policy. The Media influences the Free Market by Advertising. However, the Mass Media via Mainstream News demands that the Government, or rather the Politicians, do something. The Government needs to solve, and only the Government can solve, climate catastrophe, white supremacy, third-world poverty, the covid pandemic, refugee movement, gender and cultural diversity, etc. etc. The Mass Media need something for their 24-hour news cycle. You can't interview the hundreds of business leaders but you can get a 30-second sound bite interview from the President/Prime Minister/Chancellor/etc. for the 6 o'clock news. The symbiotic nature of the Politicians and the Media drives the Economy. In a totalitarian government, the Government/Politicians and the Media are conjointly joined. In a Mixed Market Economy (ie a mix of free-market micro-markets and government welfare socialism) the Politicians and Media are "in bed together" in an adulterous affair. For our society to properly work and stop the road to serfdom, the Media needs to be monogamous and independent. To report the facts as facts, opinion as opinion, commentary as commentary, and stop daily polls. We need a full, free, and independent Press Media. It is a branch of our Economy and our Freedom. Who controls the Media controls the Political Narrative; controlling the Political Narrative ultimately decides who wins Government and consequently the Economy and our Freedom. Milton Freidman mentioned briefly this in his Introduction to the 1994 Edition of The Road to Serfdom, when he said, "Why is it that intellectual classes everywhere almost automatically range themselves on the side of collectivism - even chanting individualist slogans - and denigrate and revile capitalism? Why is it that the mass media are almost everywhere dominated by this view?" The Communists and the Nazis and all totalitarians understand the need for them to control the Media. The founders of the US Constitution thus understood the value of a free press to democracy and viewed it as an important watchdog (or arm) of a free society and the economy, protecting free enterprise, private property, and limited government.

"Socialism is any system where the government exercises significant control over the economy" lmao, it's literally 'Socialism Is When the Government Does Stuff, and the More Stuff It Does, the More Socialister It Is' but unironic

I'm eating VEGAN chicken tenders right now

A great book. A work everyone in education should read. I am looking at you, my dear colleague professors! 🤨

Why the worst get on top, mmm sounds like Trump, and Wall Street in general. Finance and corporations have led to corporate serfdom... so yeah. So at this point it's a pick your path to serfdom.

Hayek never thought of Google, Amazon, Facebook, or Twitter huh?

He’s gone now I’m sure he’s saying I told you so !!!! We’re not exempt from the destruction of socialism. We were on the road to serfdom . In 2023 it’s right in front of us now , Hayek was right !!!

This is nothing short of mental gymnastics. market economies did not even start till mid to late 1800s. Business cycles didn't even exist till after centeral banks started messing with interest rates. France in 1848. First recorded business cycle 1860. You don't even have free trade till after the corn laws end in the UK mid 1800s. Nothing he says is factual or make any sense if you look at history.

Not even the smartest people in the world could effectively plan an economic market, all together. The free market is the ultimate democracy Without governments, with moral humans, the free market (laissez faire) would take care of itself. The gap between rich and poor would narrow, and many more people everywhere would prosper. Though it would not be a Utopia, it is the only moral system in the world.

It was the government that produced the internet. Also the foundation of the science that produced all of those other things.

I love this podcast, however this episode was so un-critical of Hayek's incredibly critique-able ideas that I feel like I have to re-listen to all the episodes I like to ensure I actually like them.

What did Hayek ever say about planned obsolescence? When have economists ever advocated for mandatory accounting/finance in the schools? Language evolved in prescientific times. Does the Sun actually rise? The issue is most people don't or won't charge. If a superior language is designed most people won't use it. How many people have even heard of Esperanto? The English won't even rationalize spellings. Double entry accounting is 700 years old. What country makes it mandatory? Economists are technologically illiterate. I asked a PhD economist to explain how an automobile engine worked. Total blank, but he drove a white SUV. Ask any economist the annual depreciation of automobiles in their country. We are turning natural resources into garbage that economists cannot evaluate because they think prices measure everything. Yeah, they measure how stupid consumers are.

Milton Friedman had such bad takes, government did fund most of these inventions through military spending. Military innovations are then funneled through the private sector to be mass produced for public consumption.

Austrian economics seem like myopic abstraction. Markets are great tool in theory buy in reality they fall short when over leveraged. A industry can be efficient in its goals but cannot be concerned about its impact on the ecosystem or say an individual who's job it destroyed. Capitalism can't defend itself from greed and power actually makes it worse. A hybrid society seems better.

beautiful hagiography ... too bad , it doen't work and puts us in our current predicaments . We've put someone who can't understand Hegel in charge of the ideological decay of an entire genereation ... Jeff Bezos says thank you by the way ^^

They made up that Nobel prize for economics to give to right wing economists like Hayek

Btw, really liked your channel for all your amazing work on so many other philosophers. But to hear you present Hayek in such a non critical manner really makes me question your intentions. You need to provide adequate counter argument if you are going to present present such politically charged ideology if you don’t want to be dismissed as an alt-right pundit.

Is this a serious philosophy channel or just a right wing fan boy? Has to be the most shallow review I've ever heard and it's sometimes hard to tel where the quotes start and end as the narrator seems so sold...