Mark Pennington @Kaleidicworld Twitter profile

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Mark Pennington

@Kaleidicworld

9 days

The brilliance of Lavoie: 'even if some supercomputers were invented that surpassed human mental powers in every respect their 'intellect' would be put to far more effective use if organized competitively than if organized by a single plan,' (National Economic Planning: 55).

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Mark Pennington

@Kaleidicworld

2 months

Illiberal Reformers is great. Critics have focussed on whether 'progressives' favoured eugenics, were racist, sexist etc. The real message though is how an arrogant belief in expertise leads experts to demonise others. Today -think public health, ESG etc.

Illiberal Reformers

The pivotal and troubling role of progressive-era economics in the shaping of modern American liberalism

press.princeton.edu

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Mark Pennington

@Kaleidicworld

1 month

I am in awe of Vera Smith - later Vera Lutz. At just 24, in a male dominated and increasingly Keynesian dominated profession she produced one of the definitive cases against Central Banking and in favour of 'free banking'. An amazing, inspirational woman.

The Rationale of Central Banking and the Free Banking Alternative | Online Library of Liberty

Written as a doctoral dissertation under Friedrich Hayek at the London School of Economics in the early 1930s, the book covers the history of free banking in the 19th century and reviews the theore...

oll.libertyfund.org

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Mark Pennington

@Kaleidicworld

1 month

Individualism must be defended and this is a brilliant history of individualist thought. While there are disputes about what it means in specific cases, at its core individualism defends voluntary community and an ethical focus on the agency of the person.

The Individualists

A sweeping history of libertarian thought, from radical anarchists to conservative defenders of the status quo

press.princeton.edu

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Mark Pennington

@Kaleidicworld

1 month

My new book is out next Spring - Foucault and Liberal Political Economy: Power, Knowledge and Freedom (Oxford UP). I've wasted too much of the last decade being a bureaucrat! I can't believe it is 13 years since this came out: Robust Political Economy ()

Home

Edward Elgar Publishing is a leading independent academic and professional publisher with a strong focus on law, business and the social sciences. We publish 400 titles annually including Encyclope...

www.e-elgar.com

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Mark Pennington

@Kaleidicworld

23 days

A major flaw in Stiglitz's policy work is an inability to apply his conceptual apparatus consistently. Why doesn't he recognize that if asymmetric info is a source of market failure it is likely an even greater source of state failure, as the evidence on voter ignorance shows?

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Mark Pennington

@Kaleidicworld

1 month

I oppose state enforced cultural conservatism because it stifles personal freedom and ethical creativity. I oppose state enforced DEI because it produces group based conformity, erasing the uniqueness of the person. I am an individualist and politically homeless in today's world

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Mark Pennington

@Kaleidicworld

13 days

True, but you seem to assume instability is bad. Creative destruction is dis-equilibrating but that doesn't mean it has to, or can be, stabilized by public agency. Keynesian and post-Keynesian policy rests on the non sequitur that 'instability' requires equilibrating 'correction'

Dr. Steve Keen

@ProfSteveKeen

13 days

Neoclassical economists ignore the instability of capitalism. Minsky showed that rising debt leads to economic crises. We must abandon equilibrium models and embrace dynamic, far-from-equilibrium approaches.

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Mark Pennington

@Kaleidicworld

1 month

Its a manifestation of Foucauldian power/knowledge - arising, at least partly, from the desire of some to control others through the claim to 'know' what produces a phenomena - and a justification to exercise a priestly 'pastoral power' over a 'wayward flock.'

Thibault Schrepel

@ProfSchrepel

2 years

The tragedy of the commons is “almost like a religion” created to legitimize “external authority” (Elinor Ostrom, 2009)

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Mark Pennington

@Kaleidicworld

24 days

When Coase showed in 1974 that asymmetric information is greater in the ideas market than in the commercial market for goods, hardly anyone concluded 'misinformation' justifies regulating political speech. How times change! The Market for Goods and the Market for Ideas on JSTOR

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Mark Pennington

@Kaleidicworld

1 month

Don Lavoie was taken tragically young - but this book should live forever. It is much clearer on the different aspects of the 'knowledge problem' than Hayek and offers compelling critiques of all the arguments for 'democratic' or 'participatory planning.'

Don Lavoie on the Continuing Relevance of the Knowledge Problem - Econlib

It was Don Lavoie, not Friedrich Hayek, who coined the term “knowledge problem” in his seminal 1985 National Economic Planning: What Is Left?1 (itself a more accessible and policy-focused distillat...

www.econlib.org

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Mark Pennington

@Kaleidicworld

25 days

Classical liberals are not climate change deniers - this collection shows a range of views on what responses consistent with respect for personal freedom, property and contract might look like. Climate Liberalism: Perspectives on Liberty, Property and Pollution | SpringerLink

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Mark Pennington

@Kaleidicworld

16 days

I'm a huge fan of Dick Wagner - who is sadly under-rated. Politics as a Peculiar Business is public choice for grown-ups. It recognizes the insight that politics involves efforts by organized interests to impose costs on others without the crude reductionism found in most pct.

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Mark Pennington

@Kaleidicworld

9 days

Crazy isn't it. Most of those who throw around the term neo-liberal with reckless abandon would have to admit that on their logic Lenin was a neo-liberal when he introduced the 'new economic policy' to save 'the revolution' from total collapse.

Iain Murray

@ismurray

9 days

“Neoliberals are in charge of the economy”

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Mark Pennington

@Kaleidicworld

2 months

Absolutely Jen. I suspect it is because it offers too complex a reading when the 'post-liberals' are looking to deploy the simple dichotomies Elinor railed against for reasons of political advantage.

Jen Brick Murtazashvili

@jmurtazashvili

2 months

Often wonder why post-liberals never consider Elinor Ostrom's conception of self-governance. This approach to liberalism builds on communities and local traditions a basis for public policy. By harnessing custom and tradition it addresses many of these critiques. It's an

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Mark Pennington

@Kaleidicworld

2 months

'Missionary industrial policies' have become very popular but this brilliant book by Bryan Cheang challenges the narrative - the successes are laregly accidental or illusory and the policies are inextricably linked to cultural illiberalism.

Economic Liberalism and the Developmental State: Hong Kong and Singapore’s Post-war Development

www.amazon.com

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Mark Pennington

@Kaleidicworld

1 month

@phl43 Deepak Lal's The Poverty of Development Economics has a an excellent section exposing the absurdity of various 'unequal exchange' theories such as this.

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Mark Pennington

@Kaleidicworld

2 months

Vera Lutz's flame must be kept alive. She studied under Hayek at LSE and her critique of French 'indicative planning' is a classic that still has relevance to today's world of 'green new deals', 'new industrial policy' and 'missionary government.'

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Mark Pennington

@Kaleidicworld

1 month

I love this 1973 Lachmann paper for IEA. In 30 pages of gentle prose he deconstructs the edifice of the Cambridge school and neo-classical growth theory. Theirs is an economics without people, or for pale substitutes. His is one for creative human beings

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Mark Pennington

@Kaleidicworld

28 days

There is nothing wrong with 'critical theory' concepts being a required part of such courses, so long as they are themselves subject to critique. The problem is they rarely are - with universities now deciding what they consider the 'correct' epistemological stance.

John Armstrong

@johnarmstrong5

28 days

My new paper published today looks at attempts by the Quality Assurance Association for Higher Education (QAA) to impose ideas from "critical pedagogy" across university curricula in the UK, and looks at what happens if you follow their advice... 🧵

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Mark Pennington

@Kaleidicworld

1 month

Just turned 90 Jagdish Bhagwati has shown time and again why freer trade benefits north and south, and every intersection. If you value personal freedom and poverty reduction the new alliance of anti-capitalist left and nativist right must be resisted

Free Trade Today

press.princeton.edu

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Mark Pennington

@Kaleidicworld

1 month

The arguments that computers/AI can replace markets are very weak but why are socialists so keen on them. Many socialists used to rail against the 'alienation' from being subject to impersonal market forces - but what could be more alienating than having to obey an algorithm?

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Mark Pennington

@Kaleidicworld

2 months

Very saddened about the loss of James C Scott. He was due to speak in person at our centre when the pandemic lockdown was introduced in 2020. Several months later he gave this typically enlightening talk to us online. Thankyou for the inspiration James.

New Video Recording: A Golden Age of Barbarians? A Lecture by James C. Scott - Centre for the Study...

In this lecture, James C. Scott challenges dominant historical narratives about non-state populations. He argues that by dominating trade routes, extracting tribute, and providing the connective...

csgs.kcl.ac.uk

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Mark Pennington

@Kaleidicworld

8 days

Yes I agree with Steve on this. It also blocks creative destruction, preserves the capital structure of zombie firms -including banks - thereby preventing the reallocation of resources to more urgently demanded uses.

Dr. Steve Keen

@ProfSteveKeen

8 days

Quantitative easing has worsened inequality. It inflates asset prices, benefiting the wealthy who own most assets. Meanwhile, the majority, who own little, see no benefit. This policy deepens the divide, rather than bridging it.

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Mark Pennington

@Kaleidicworld

2 months

Hayek was sceptical of an all-encompassing welfare-regulatory state but The Road to Serfdom is targeted at the idea of 'democratic central planning' and not at the welfare state:

Was Hayek Right? | IEA Discussion

Friedrich Hayek is rightly considered to be one of the intellectual forefathers of classical liberalism and his famed work, 'The Road to Serfdom', is thought...

www.youtube.com

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Mark Pennington

@Kaleidicworld

2 months

Virginia Postrel is brilliant - we need a new edition of The Future and Its Enemies

Virginia Postrel

@vpostrel

2 months

If JD Vance had been around in late 1700s Britain he’d have been opposed to spinning machine and, a generation later, to power looms. Aka the Industrial Revolution, which threw a lot of people out of work even as it created new jobs and unprecedented increases in living standards

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Mark Pennington

@Kaleidicworld

11 days

@MrRBourne In Whither Socialism and elsewhere, Stiglitz himself admits that corrective policy requires info on 'all estimated demand and supply elasticities on all commodities and cross elasticities' - and that ' the practical information required is well beyond what is available.'

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Mark Pennington

@Kaleidicworld

18 days

If 'systemic power' reflects unintended as well as deliberate inequities, efforts to 'dismantle' it will create new inequalities. Unintended consequences -'good' or 'bad' are inevitable. They reflect the limits of the human mind - including the minds of the 'dismantlers.'

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Mark Pennington

@Kaleidicworld

2 months

Matias Petersen is a beautiful writer with a beautiful mind. Looking for a considered account of MacIntyre's philosophy which arrives a radically different conclusions - this is the book for you - please let there be a pback soon.

Political Economy, Institutions and Virtue: Alasdair MacIntyre’s Revolutionary Aristotelianism

This book engages with a radical critique of the modern state and the contemporary economic order: Alasdair MacIntyre’s ‘revolutionary Aristotelianism’ project. Central to this critique is the idea...

www.routledge.com

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Mark Pennington

@Kaleidicworld

2 months

A great book on race and political economy in the US. Shows how racism has been and is sustained by state power, and how market forces have historically undermined race based categories. The analysis has multiple applications to other systemic 'isms'

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Mark Pennington

@Kaleidicworld

2 months

An interview where I discuss the compatibility of post-modernism and Foucault especially, with classical liberal thought.

Postmodernism Is Not The Enemy | Moral Sentiments

In recent years, 'Postmodernism' has become a dirty word, anathema to a free society. But do most people actually know what it means? Do liberal and postmode...

www.youtube.com

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Mark Pennington

@Kaleidicworld

2 months

I've listened often to John Hasnas lecture on the common law -so its great to see his new book. A terrific defence of an evolutionist, bottom up approach to law and governance that rejects social contract models in favour of Hayekian spontaneous order:

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Mark Pennington

@Kaleidicworld

22 days

They won't take note - because the majority of academics subscribe to a philosophy that would subject virtually every aspect of people's lives to rule by committee.

Ilia Murtazashvili

@IMurtazashvili

22 days

Universities should take note: "According to a 2023 Microsoft Workplace Trend report, two of the top five obstacles to productivity are too many meetings and inefficient meetings...the stress and fatigue of preparing for, participating in, and executing on the outcomes of the

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Mark Pennington

@Kaleidicworld

3 months

It contains some previously published essays but this by Dave Schmidtz is a superb new statement of classical liberal philosophy and its relationship to social science

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Mark Pennington

@Kaleidicworld

1 month

This little book (1988) inspired me to do a PhD on UK land use planning. Today the government continues the delusion that 'housing targets' are the answer. They won't work because target setting reflects an incentive structure insensitive to price signals

No Room! No Room! The Costs of the British Town and Country Planning System

The British Town and Country planning system was originally designed to guide rather than restrict development. It has grown into … Continue reading "No Room! No Room! The Costs of the British Town...

iea.org.uk

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Mark Pennington

@Kaleidicworld

2 months

Land use planning has been a major obstacle to UK growth - for 70 years. I wrote two books - twenty+ years ago now explaining its pathologies. The system is a warning of what happens when strong property rights are subordinated to multiple 'stakeholders.'

Liberating the Land: The Case for Private Land-Use Planning

Foreword by Harry W. Richardson Despite the growing belief in the efficacy of market forces, the ownership and use of … Continue reading "Liberating the Land: The Case for Private Land-Use Planning"

iea.org.uk

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Mark Pennington

@Kaleidicworld

28 days

One of my picks of recent years - situates the Austrian school in the tradition of continental philosophy and connects this grounding to its critique of scientistic hubris in positivist-social engineering models The Viennese Students of Civilization ()

Home

We unlock the potential of millions of people. Our qualiﬁcations, assessments, academic publications and original research spread knowledge and spark enquiry.

www.cambridge.org

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Mark Pennington

@Kaleidicworld

1 month

The government is aligned with senior university managers many of whom are attempting to 'redfine academic freedom' to allow them to declare whether anyone is 'sufficiently qualified' to speak out on any topic. We need a simple rule - no freedom of speech then no public subsidy.

Lee Jones

@DrLeeJones

1 month

Glad to have signed this letter in The Observer w/ colleagues opposing @bphillipsonMP 's appalling decision to stop implementing the #HigherEd & #FreeSpeech Act. #academicfreedom needs more not less protection.

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Mark Pennington

@Kaleidicworld

2 months

John Jewkes et al challenged what today is called the case for 'missionary government' in 1958. They showed via detailed case studies that the causes of innovation are so varied and complex they cannot be accommodated by a central mission or plan.

The Sources of Invention

link.springer.com

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Mark Pennington

@Kaleidicworld

1 month

Why the worst get on top - in socialist economies and in journalistic outlets sympathetic to them.

Peter Boettke

@PeterBoettke

1 month

Venezuela under & #8220 ;Brutal Capitalism& #8221 ; -

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Mark Pennington

@Kaleidicworld

29 days

LP Hartley wrote the romantic tragedy The Go Between. Less well known is his dystopian Facial Justice depicting the logic of efforts to equalise people who differ on multiple dimensions. A warning for those favouring equity over equality before the law

Facial Justice

www.penguin.co.uk

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Mark Pennington

@Kaleidicworld

1 year

Ludwig Lachmann was a genius - one of the most under-rated Austrian economists. This paper shows why he was so great:

Beyond Creative Destruction and Entrepreneurial Discovery: A Radical Austrian Approach to Entrepr...

Although Schumpeter's theory on `creative destruction' and Kirzner's on `entrepreneurial discovery' dominate current entrepreneurship research in organization s...

journals.sagepub.com

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Mark Pennington

@Kaleidicworld

29 days

@IMurtazashvili But you can't 'correct' for unequal histories or starting points. We all have different parents with different parenting skills. Taken to its logic 'equity' requires totalising control such as removing children from their parents. We want more and better opps for all, not equity

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Mark Pennington

@Kaleidicworld

15 days

Thankyou Sam! I can't believe it is over 20 years since that came out - and most of the research I did on it was in the mid-90s.

Sam Bowman

@s8mb

16 days

@fruitoftears @ATabarrok @robertwiblin @bryan_caplan @albrgr @bswud @johnrmyers I am curious who @Kaleidicworld would say. IMO his “Liberating the Land” monograph (based on his PhD) is the ur-YIMBY essay for the British strand of thinking (and includes the emphasis on mechanism design that is big among British YIMBYs today).

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Mark Pennington

@Kaleidicworld

7 days

@olilangarica Perhaps - but the question is always 'compared to what.' Markets can be slow to adjust because they are dealing with complex adjustment problems but there are very few systemic reasons that would explain how bureaucratic government agencies would somehow adjust more effectively.

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Mark Pennington

@Kaleidicworld

29 days

@IMurtazashvili You can't have equal opportunity in a free society because people with different cultural values, histories etc will generate unequal starting points. To eradicate those is to end cultural pluralism. End rent seeking and legal privilege yes - but that wont produce equal opps.

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Mark Pennington

@Kaleidicworld

23 days

This aspires to what Marxists term 'conscious control' of economic life - in the intellectual sphere. Yet you can no more integrate the specified intersections to deliver 'equity' through conscious cultural control than you can deliver efficiency via conscious economic planning.

Ian Pace

@ianpacemain

24 days

This beggars belief, published by a respected organisation.

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Mark Pennington

@Kaleidicworld

27 days

Britain is well and truly in the age of the omnipotent moral busybody.

Doug Stokes

@profdws

27 days

“Of all tyrannies, a tyranny sincerely exercised for the good of its victims may be the most oppressive. It would be better to live under robber barons than under omnipotent moral busybodies. The robber baron's cruelty may sometimes sleep, his cupidity may at some point be

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Mark Pennington

@Kaleidicworld

1 month

G L S Shackle To acknowledge that there is novelty, in the sense of fundamentally undeducible things, waiting to be encountered for the first time, is to acknowlegde that we cannot build models that will exhibit the course of a society's history over even a limited span of time.

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Mark Pennington

@Kaleidicworld

9 days

@enzoreds I like the essay The Subject and Power - plus Johanna Oksala's book Foucault on Freedom.

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Mark Pennington

@Kaleidicworld

2 months

If you're not familiar with it check out Panmure House - run by Adam Dixon. Its a model of what academia should be, but all too often isn't - a forum for civilised and pluralistic debate across political divisions. This is liberalism in action:

Panmure House

Our mission is to provide world-influencing social and economic debate and research, convening in the name of Adam Smith to effect positive change and forge global, future-focussed networks.

www.panmurehouse.org

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Mark Pennington

@Kaleidicworld

1 month

If she had come to KCL to do PPE she would have received a much more rounded education. PPE isn't the problem - though Oxford's version of it may be.

Tim Worstall

@worstall

1 month

This is the level of economic understanding that a First in PPE at Oxford gets you folks. Much of our economic and political establishment did PPE at Oxford. Aren't we the lucky ones?

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Mark Pennington

@Kaleidicworld

8 days

- Doug, you may be familiar but Fred McChesney's work is v good-relevant to this.

Money for Nothing: Politicians, Rent Extraction, and Political Extortion

www.amazon.com

Doug Stokes

@profdws

8 days

Had a number of people ask: what is ‘regulatory rentierism’: a situation where a state-quangocracy extracts economic rent through regulatory power rather than through productive activities and that is incentivised to expand power/rents. Often justified through moral policing.

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Mark Pennington

@Kaleidicworld

11 days

I'd have no problem, if as well as associating 'whiteness' with 'individualism' they'd also associate it with the worst forms of collectivism. They might also mention that colonialism breaches the libertarian principle of negative liberty. There's a reason they won't do so.

Adrian Hilton

@Adrian_Hilton

11 days

There are ways of teaching children (and training teachers) about racism, but inculcating an antipathy toward “whiteness” isn't only educationally toxic; it is societally harmful. It also contravenes the Education Act 1996 (V.iv §§406-7) regarding political indoctrination.

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Mark Pennington

@Kaleidicworld

2 months

A short text based on a speech I gave to Civic Future last week. All of the parties on the ballot today are committed to principles that are likely to make matters worse - not better.

More government action can't fix Britain

This is an edited version of remarks delivered by the author as part of Civic Future’s ‘The New Wild West’ summit. Should the state play a larger role in the UK economy? My answer is “no” – many...

capx.co

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Mark Pennington

@Kaleidicworld

22 days

I enjoyed my discussion with Sam Bagg on elite power and how best to control it. Check out his book Podcast - The Dispersion of Power: A Critical Realist Theory of Democracy - Centre for the Study of Governance & Society ()

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Mark Pennington

@Kaleidicworld

1 month

@cafreiman It is worse than that Chris - almost all government action imposes negative externalities because it systematically allows majorities to impose terms on those outside any majority coalition. Only by chance are all relevant costs and benefits internalised by such a process.

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Mark Pennington

@Kaleidicworld

2 months

Foucault's view of 'the subject' as a 'work of art', shaping itself in the face of pressure to conform is thoroughly entrepreneurial. 'Do not ask me who I am and do not ask me to remain the same - leave it to our bureaucrats and our police to see that our papers are in order.'

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Mark Pennington

@Kaleidicworld

13 days

@FriedrichHayek I don't demur- but the post-Keynesian framework sees any kind of disequilibrium as somehow in need to 'correcting' - which presumes the right amount of stability can be achieved and that we know what it looks like. This worldview produces a demand for permanent intervention.

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Mark Pennington

@Kaleidicworld

1 month

It certainly is - and what is most interesting and disturbing is how Universities Uk want to be part of that project 'aligning' the research of their institutions with an explicitly corporatist agenda.

Adam Dixon

@DrAdam_Dixon

1 month

State capitalism is all around. Just consider @UKLabour plan with Great British Energy. @IliasAlami and I unpack what we are seeing globally in our new book from @OUPAcademic . For more, listen to the latest New Enlightenment podcast

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Mark Pennington

@Kaleidicworld

1 year

Market liberalism and standpoint theory are a marriage made in heaven. The great value of markets is that they act as a bridge facilitating cooperation across those with different 'lived experience.'

On the Epistemological Similarities of Market Liberalism and Standpoint Theory | Episteme |...

On the Epistemological Similarities of Market Liberalism and Standpoint Theory - Volume 21 Issue 1

www.cambridge.org

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Mark Pennington

@Kaleidicworld

1 month

Almost as bad as some of their 'reporting' on the UK.

Jeffrey P. Clemens

@jeffreypclemens

1 month

Some bizarre editorializing on economic systems from the @nytimes coverage of the Venezuelan election. "If the election decision holds and Mr. Maduro remains in power, he will carry Chavismo, the country’s socialist-inspired movement, into its third decade in Venezuela. Founded

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Mark Pennington

@Kaleidicworld

2 months

Highly recommend this piece by Adam Gibbons on political ignorance.

KCL CSGS: Centre For Study of Governance & Society

@csgskcl

2 months

Great new paper by our recent speaker Adam Gibbons ( @WallfacerAG ) on different conceptions of political ignorance and their relationship to problems of political capture.

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Mark Pennington

@Kaleidicworld

1 month

Looking forward to this.

Cass Sunstein

@CassSunstein

1 month

Campus Free Speech - coming in time for the new school year (when things might get loud). @Harvard_Press

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Mark Pennington

@Kaleidicworld

15 days

@s8mb @fruitoftears @ATabarrok @robertwiblin @bryan_caplan @albrgr @bswud @johnrmyers I read four papers in the early 90s which sparked my PhD work - Evans No Room No Room for IEA, an ASI piece called The Green Quadratic, and two papers by Richard Ehrman for CPS - Planning, Planning! and Nimbyism: The Disease and the Cure.

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Mark Pennington

@Kaleidicworld

22 days

@flowidealism @mbrendan1 @PaulLew16394851 @knowledgeprob I recommend this piece - very well articulated - applying analytical symmetry to biases in private and in public decision-making: Are Regulators Rational? ()

De Gruyter

Independent academic publisher dedicated to high-caliber scholarship from around the world – since 1749.

www.degruyter.com

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Mark Pennington

@Kaleidicworld

2 months

Superb collection - highly recommended

Niclas Berggren

@Nonicoc

2 months

If you do work on markets, capitalism, institutions, or economic freedom, consider consulting the up-to-date research overviews provided in the new Handbook of Research on Economic Freedom, published this year by @ElgarPublishing . See

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Mark Pennington

@Kaleidicworld

1 month

Virginia - please do a new release of the Future and Its Enemies. It has never been more needed. The most inspiring, popular statement of classical liberalism I have ever read.

Virginia Postrel

@vpostrel

1 month

The Technocratic Temptation

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Mark Pennington

@Kaleidicworld

22 days

Absolutely!

Luke Johnson

@LukeJohnsonRCP

22 days

Brilliant quote

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Mark Pennington

@Kaleidicworld

1 month

@OrdoliberalBG @GrudevLachezar Hello Stefan - funnily enough I read that blog last week. She is a real heroine - and very sadly neglected. She did a great book critiquing French 'indicative planning' as well. We need to give her memory some more publicity that is for sure. M

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Mark Pennington

@Kaleidicworld

7 days

This is excellent John - a perspective rarely if ever heard these days - but one that desperately needs to be heard.

Professor John Hearn

@jbhearn

7 days

@Muppetsdad2 You may be able to read this.

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Mark Pennington

@Kaleidicworld

1 year

Foucault's concepts of 'bio-power' and power/knowledge are very congenial to a sceptical libertarianism that emphasises the limits of expertise under complex conditions - and especially so in the case of public health.

Foucault and Hayek on public health and the road to serfdom

Public Choice - This paper draws on the work of Michel Foucault and Friedrich Hayek to understand threats to personal and enterprise freedom, arising from public health governance. Whereas public...

link.springer.com

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Mark Pennington

@Kaleidicworld

1 month

@enzoreds Hello Enzo - managerialism perhaps - but not to 'marketisation.' It is not 'marketisation' to freeze fees for 14 years!

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Mark Pennington

@Kaleidicworld

1 month

@enzoreds @Kpourvand Resource scarcities will continually change and require market adjustments even if no growth - adjustments better conducted through markets than planning. But capitalism has no inherent tendency to expand - if time preferences change it is compatible with economic contraction.

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Mark Pennington

@Kaleidicworld

15 days

@felix_hathaway @s8mb @fruitoftears @ATabarrok @robertwiblin @bryan_caplan @albrgr @bswud @johnrmyers There is an excellent follow up to this by Alan Evans - in the journal Urban Studies from 1991. The title is 'Rabbit Hutches on Postage Stamps' - an accurate depiction of new build housing in this country then and now - if ever there was one.

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Mark Pennington

@Kaleidicworld

1 month

@benjit14 No that's not what she is saying - I'd recommend reading her Governing the Commons. M

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Mark Pennington

@Kaleidicworld

10 days

@NoisyTroublemkr @MrRBourne absolutely - the relevant data are constantly changing - it isn't a matter of simply searching harder for a fixed stock - the data can never be 'given' in that way - which was always Hayek's point.

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Mark Pennington

@Kaleidicworld

9 days

@thephilippics Imagine running anything like a university seminar!

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Mark Pennington

@Kaleidicworld

14 days

There is no better intro to Austrian economics and its relevance to public policy than this classic by Steve Littlechild. Relevant today for competition policy, energy and enviro reg. The Fallacy of the Mixed Economy — Institute of Economic Affairs ()

IEA

The Institute of Economic Affairs (IEA) is an educational charity and a UK-based free-market think tank promoting free thought.

iea.org.uk

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Mark Pennington

@Kaleidicworld

15 days

@WallfacerAG Ideas also matter, and many outcomes are not deliberately intended by those who make political deals - no one is able to anticipate the strategic moves made by other actors in the political game - a point missed by versions of pct which attribute quasi-omniscience to agents.

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Mark Pennington

@Kaleidicworld

1 month

@benjit14 No that's not what this means - I am referring to what 'causes' the over-fishing and the 'understanding' of the possible solutions to it.

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Mark Pennington

@Kaleidicworld

24 days

I long for more books like this. Classical Liberalism is not 'atomistic'. As Hayek once said, it seeks to understand the implications of what it means to live as a 'social being.'

Niclas Berggren

@Nonicoc

24 days

NEW BOOK: Sociology and Classical Liberalism in Dialogue: Freedom is Something We Do Together

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Mark Pennington

@Kaleidicworld

25 days

@worstall The devil is in the 'properly set'...

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Mark Pennington

@Kaleidicworld

21 days

This looks great.

Arvind Panagariya

@APanagariya

21 days

To give you a taste of The Nehru Development Model, here are the first two pages of the book. They will give you a good idea of what this long book is about.

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Mark Pennington

@Kaleidicworld

9 days

@jonewilson As that doyen of the neo-liberal thought collective, otherwise known as Wendy Brown once put it - 'the comparative worth doctrine makes Taylorism look like child's play' (States of Injury, 1995:171)

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Mark Pennington

@Kaleidicworld

29 days

@mcshanemusic @phl43 I have no problem with that argument.

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Mark Pennington

@Kaleidicworld

2 months

@tonyannett Read the book - the full text of which is attached in the posted link. She showed that most of the 'success' cannot be attributed to the 'planning.'

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Mark Pennington

@Kaleidicworld

27 days

@LukeMNeve MK is one of the few considered to have been a success - but most of the others have been abject failures with socio-economic indicators well below their adjacent areas.

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Mark Pennington

@Kaleidicworld

1 month

@FriedrichHayek I'm not sure. You could say its down to rent seeking or bureaucratic over-reach - but reducing it to that would neglect the discursive/cultural context that facilitates such behaviour. The complex interaction between culture and agency is one of the reasons I like Foucault.

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Mark Pennington

@Kaleidicworld

29 days

@Jesse_Norman Yes - it was brilliant - I played it for hours on end - and imagined Jim Laker and Richie commenting on the proceedings.

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Mark Pennington

@Kaleidicworld

8 days

@PeterBoettke Thankyou Pete - I never tire of reading and re-reading that book.

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Mark Pennington

@Kaleidicworld

23 days

@m_j_hannon I don't think they can - but that doesn't mean that there isn't room for a degree of overlap across standpoints that allows for some form of understanding and cooperation,

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Mark Pennington

@Kaleidicworld

22 days

@benjit14 @rcolvile @JulieBygraves You'd need to define what you mean by an 'over-supply' of capital before I, or anyone else can refute the claim. You also need to define what you mean by a justice/distribution issue. Are you suggesting that concentrated ownership is the issue - if so, why was it not in the 30s?

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Mark Pennington

@Kaleidicworld

1 year

One implication of this analysis is that there is no scientific way to define externality. More often than not the concept is used as device to secure power.

Novel externalities

Public Choice - Novel externalities are social activities for which the emerging cost (or benefit) of the spillover is unknown and must be discovered. Negative novel externalities have regained...

link.springer.com

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Mark Pennington

@Kaleidicworld

11 months

@profdws @trussliz It is not only the growth in spending that has carried on unabated Andy Haldane showed that the number of financial regulators increased by 3600% 1979-2012. The 'markets let rip' narrative is total rubbish.

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Mark Pennington

@Kaleidicworld

29 days

@mcshanemusic @phl43 Agreed, but the point is that event absent inequalities that are due to theft, colonialism etc. cultural pluralism or diversity generates inequality - the Islamic world used to produce more opportunity than did Europe, as did China - and most of that was not due to theft.

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Mark Pennington

@Kaleidicworld

1 month

@ianpacemain No I don't think so - the key problem is the misguided belief that people need to go to university for social mobility reasons - but without willing to fund it either through fees or taxes. A better approach would be to have multiple routes to mobility - not privileging univs.

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