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Politics : Actual left/right wing discussion -- Ignore unavailable to you. Want to Upgrade?

To: one_less who wrote (2579)	10/11/2006 4:41:33 PM
From: TimF	Read Replies (1) \| Respond to of 10087

Phelps Most recent winner of the "Nobel Price for Economics" (technically the "The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel", the award was not created by Nobel). Also the author of the article that I posted and than replied to. Hayek mises.org hayekcenter.gregransom.com I don't know who they are or what you are talking about when you say 'too far'. To far was Phelps term to describe Hayek's (and Ann Rand's, but I was focusing on Hayek's) ideas in his article. See Message 22898787 or opinionjournal.com "We all feel good to see people freed to pursue their dreams. Yet Hayek and Ayn Rand went too far in taking such freedom to be an absolute, the consequences be damned. In judging whether a nation's economic system is acceptable, its consequences for the prospects of the realization of people's dreams matter, too. Since the economy is a system in which people interact, the endeavors of some may damage the prospects of others. So a persuasive justification of well-functioning capitalism must be grounded on its all its consequences, not just those called freedoms."