The Autism of Economics

In a prior post, I offered an alternative explanation for socialism’s failure. In doing so, I critiqued economists that defend the free market on the grounds of monetary incentive structure of being too narrow in their thinking. While monetary incentives play a role in human behavior, they are not the only motivator, and are . . . → Read More: The Autism of Economics

Why Collectivism Fails

In the first place, it is helpful to define collectivism and failure. Collectivism refers to any and all economic and political systems where goods and services are publicly owned and operated; it is also popularly known as communism and socialism, among other terms. Failure is defined as failing to satiate the maximum number of . . . → Read More: Why Collectivism Fails

Austrian Tautologies: Altruism

Here’s a fun argument:

As far as I can tell, we are left exactly where we were after that first essay. No altruism to be found. If you made a “sacrifice” it was, by direct virtue of your action, “worth it to you” (at the time of the action) or you would not have . . . → Read More: Austrian Tautologies: Altruism

Does Adam Smith's 'impartial spectator' provide a sufficient basis for cosmopolitian ethics?

One of the benefits I have obtained from reading Nicholas Phillipson’s excellent book, ‘Adam Smith, an Enlightened Life’ is a better understanding of what Smith was trying to achieve in writing ‘The Theory of Moral Sentiments’ (TMS). He apparently saw the book as a contribution to a ‘science of man’ based on the observation . . . → Read More: Does Adam Smith’s ‘Impartial Spectator’ Provide a Sufficient Basis for Cosmopolitian Ethics?