The Levin Interviews- Hayek \ stacker news ~Politics_And

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The Levin Interviews- Hayek youtu.be/dV7-2Aua4_4

336 sats \ 5 comments \ @siggy47 18 Jan Politics_And_Law

I just love the opportunity to see and listen to this man in the flesh. Enjoy!

82 sats \ 0 replies \ @Bell_curve 18 Jan

I love the classical music intro. Makes me smart and sophisticated viewer. I also eat a snickers bar with a knife and fork.

41 sats \ 0 replies \ @charonnakamoto 18 Jan

Thanks for sharing this. It was a delight to listen to this interview.

We mustn't forget that our present system is always so obstructed that, in fact, we probably can keep it going only by inflation, so we must first free the price mechanism then restore sound currency, and then there is no reason why Britain shouldn't return to her old prosperity.

It still gives me the shivers to think about how prescient Hayek was. These thinkers' intellectual clarity is something to be treasured!

The interviewer's astute questions also stimulated this discussion!

Well, if you believe that one of the things we have to do is to diminish the power of parliament to make it less absolute since only parliament can legislate for that, you are asking people to do the one thing that history seems to suggest nobody ever does voluntarily to relinquish a power they have do you expect parliament ever to get around to doing that?

Large swaths of people will never allow anything but freebies from the government. Hayek advocates for swift measures to nip the issue in the bud. So, if a government decides to activate the Department of Gov efficiency and adopt the Bitcoin standard, then that'll have to be swift as well. Once they decide to print less, that will cause a recession. It will be interesting to see how much Trump can actually bring to life(if any). He needs to act swiftly if he has to maintain some hope of coming back into power at the end of the term as the months of recession are going to be painful.

It means not only that stopping inflation is bound to bring about a very unpleasant process of unemployment, bankruptcies, and so on. That much more is required now. My point is about the whole thing, particularly inflation, that you can not drag out this process slowly. No government can stand a policy that would cause misery for three or four years. You must get it over with in a relatively few months, and the idea that you can do it slowly and still succeed is a complete illusion.

41 sats \ 2 replies \ @Rothbardian_fanatic 18 Jan

I like it that Hayek comes right out and says that you cannot make rational decisions without free prices in a free markets. He goes into details on the basis of economic knowledge and where you get it and how you apply it (His Nobel prize speech). Then he says that economic rewards are not only just but accurate rewards. Needs? That communist distribution idea also goes down in flames because there is no linkage between incentives and efforts. Too bad he does not go into details of his (Heyekian) triangles.

I think the interviewer, Levin, is a complete economic naïf. Why did they give him this opportunity. He is a total progressive/lefty/Marxist/socialist/communist/murderer.

23 sats \ 1 reply \ @charonnakamoto 18 Jan

I think this is a traditional debate format in which two opposing views are portrayed. When these opinions are shared cordially, the viewer can ascertain the merits and demerits of both sides.

0 sats \ 0 replies \ @Rothbardian_fanatic 18 Jan

Yes, I understand, but this was not a debate it was an interview. In interviews, there is generally one person, as here, asking the questions and the other answering them, as here. The interviewer can ask the questions any way he wishes, but how they are asked points to the biases in the interviewer.