F. A. Hayek on Meet the Press, 1975
Hat tip Peter Boettke .
Hayek as a special on Meet the Press in 1975 discussing inflation, employment, stimulus, recessions and economic policy and monetary policy. A Gem. Well worth a listen. Much of the discussion is so very relevant to what we are seeing today. His answers with the benefit of hindsight only serve to make him more correct and more brilliant than he might have seemed live in 1975.
I love the way he takes on questions with no answers and says so. I love the way he warns against the "Fatal Conceit"...17 years before writing it in book form. I also couldn't help but chuckle at a lot of the dumb questions.
A great thanks to the Mises Institute for finding the audio file.
Submitted by John on Mon, 2008-12-01 18:06
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Comments :
Awesome...
I have to believe in my heart of hearts, that once this latest wave of federal activism ultimately results in ...well in what it always results in...mediocrity, inefficiency, and failure, the country will wake up and once again rally to the core principles that made our country so great. Restrained federal government, individual liberty, and a respect for our common American culture and history.
It seems that those things are all part of a whole, so that to hear the wisdom of a Hayek, one must abandon the liberal mindset. At least in as much as the liberal mindset is one of government, and the insatiable need for more spending, being the answer to EVERYTHING.
I passed it on over at RS
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Very much appreciated diary! Thanks.
Underlying all arguments against the free market is a lack of belief in freedom itself. ~M. Friedman