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December 19, 2015

On neoclassical economics.— Milton Friedman wrote a famous article in 1953 called “The Methodology of Positive Economics,” in which he argued that in science, the less realistic or more idealizing the model, the better.[1] A typically simplistic argument. But for a neoclassicist it served the function of making a virtue of necessity, thus allowing him to continue to believe his t...

August 5, 2015

It might seem wrong to maintain, as I have in many writings, that the modern predominance of bureaucratic social structures and their ethos—for which industrial capitalism (broadly defined, including the Soviet Union and even “Communist” China) has been largely responsible, in that it is an anti-personal social order in which people tend to be treated as instantiations of such ca...

March 15, 2015

Ideological hacks like Friedrich Hayek and his contemporary disciples pretend that the difference between capitalism and socialism is that the latter is planned and the former isn’t. It’s “the market” versus “centralized planning.” But this has nothing to do with it. For a very long time, capitalist societies have been largely planned, indeed since we entered the era of corporate...

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