Aug
28th
Thu
28th
What can you say about people who get teary-eyed at a political convention? The TV camera people found a few of these at the Democrats’ convention and they will probably find some at the Republicans’ convention next week. Hayek had some things to say about dangerous confusions when we mix up the “micro-cosmos” (he referred to families, tribes, extended families, etc.) and the “macro-cosmos” (he referred to wider civilization). The rules and norms that work in one do not work in the other. The market works for us by harnessing and organizing the incentives of very large numbers of strangers. But this is not how allocations within families work. Likewise, it is futile and dangerous to think of the larger society as a family. At worst, we look for (and find) a pater familius. The history of these quests is ugly.
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I agree with this probably 70 percent.
