tag:blogger.com,1999:blog-5404820640426099135.post8304922925176673738..comments2023-10-31T00:46:35.316+13:00Comments on Anti-Dismal: Keynes on "The Road to Serfdom"Paul Walkerhttp://www.blogger.com/profile/13731003529546075700noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5404820640426099135.post-32352244341212174482013-08-13T07:41:37.563+12:002013-08-13T07:41:37.563+12:00I remember reading that back in the day, and I do ...I remember reading that back in the day, and I do see where you are coming from! <br /><br />However, I suspect the key difference between people's interpretation of his statement depends on what we term "moral issues". <br /><br />In fact, the entire debate about how government works as a means of "co-ordination" alongside prices and choice as a means of "co-ordination" depends on both a description of what would happen, and a moral judgment about how to interpret that. <br /><br />I read Keynes as saying that, although I also agree with you that he appeared to indicate more faith in governments ability to co-ordinate than many of us with our current experience would see as practical.Matt Nolanhttps://www.blogger.com/profile/05615455113796090765noreply@blogger.comtag:blogger.com,1999:blog-5404820640426099135.post-51145784009874219312013-08-11T18:23:11.983+12:002013-08-11T18:23:11.983+12:00This is a fantastic find and greatly explicates Ke...This is a fantastic find and greatly explicates Keynes's thinking on Hayek's arguments. The slippery slope is a critique that applies much more widely to modern economics in a way that is often not appreciated.<br /><br />"You agree that the line has to be drawn somewhere, and that the logical extreme is not possible. But you give us no guidance whatever as to where to draw it. In a sense this is shirking the practical issue."<br /><br />This criticism applies as well to deregulation or anti-tax positions widely present in modern conservative/libertarian positions. Most would argue that some regulation and some tax is justified within the economy, but puritan economic theory gives no indication where that line may be drawn. In fact, under common economic assumptions, there can be no justification to deviate from the market result. It leaves us with no way to analyze practical questions within public policy.<br /><br />Thank you for the interesting post.<br />Daniel Baker<br />@DeadweightLoss<br />www.distilledmagazine.comDR Bakerhttp://www.distilledmagazine.comnoreply@blogger.com