Supporters of Capitalism Are Crazy, Says Harvard – Thomas E. Woods, Jr. – Mises Daily

they’re probably right, the harvard crowd are ignoring the “Austrian School” founded by the paranoid Hayek. But the point the austrians always miss is the same as that missed by all blinkered utopians, people DO NOT BEHAVE the way economists keep inisting they do. In particular, they do not make rational choices. In part, this is because, as consumers, in particular, they are not privy to the “Perfect Information” which is supposed to drive rational behaviour and the major blame for that is in the laps of the economists for NEVER adequately defining what constitutes “Perfect Information”. Which is why I’ve been trying to do it myself (


About Harry Stottle
Refugee from the Stumbleupon Blogicide of October 2011 Here you will find my "kneejerk" responses to the world and what I happen to bump into. For my more detailed considerations and proposals, please visit my website or my previous main blogging site.

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