Some Chicago Boyz know each other from student days at the University of Chicago. Others are Chicago boys in spirit. The blog name is also intended as a good-humored gesture of admiration for distinguished Chicago School economists and fellow travelers.
For years and years I have been quoting Hayek as saying:
Capitalism depends upon values which it did not create and cannot replace.
I am sure I read something by him that was very close to this at some point. I thought it was from The Fatal Conceit: The Errors of Socialism, but when I looked in there, I found the concept but not the pithy summary.
The sentence comes pretty close to summing up my whole political philosophy, and I did not originate it.
Does anyone know where I got it?
My son made it back from his first tour in Afghanistan two days ago. He will probably have to go back at least once. This is from his Facebook posting.
“Lindsay Lohan, 24, is all over the news because she’s a celebrity drug addict. While Justin Allen 23, Brett Linley 29, Matthew Weikert 29, Justus Bartett 27, Dave Santos 21, Chase Stanley 21, Jesse Reed 26, Matthew Johnson 21, Zachary Fisher 24, Brandon King 23, Christopher Goeke 23, Sheldon Tate 27, they are all Marines who gave their lives this week, no media mention. Honor THEM by reposting…”
Done.
I haven’t read Jonathan Franzen’s novel, Freedom, but Erin O’Connor has been reading it and reviews it here. Based on her summary, it seems that Franzen’s basic opinion about freedom is this: he doesn’t like it very much. Consider for example these excerpts:
…the American experiment of self-government, an experiment statistically skewed from the outset, because it wasn’t the people with sociable genes who fled the crowded Old World for the new continent; it was the people who didn’t get along well with others.…also: The personality susceptible to the dream of limitless freedom is a personality also prone, should the dream ever sour, to misanthropy and rage.
Erin summarizes:
“Freedom,” for Franzen, is a red herring. As a national ideal, it paralyzes us, preventing government from behaving with the rationalism of European nations (there are passages about this in the book). And, on a personal level, it is simply immiserating. Every last one of Franzen’s major characters suffers from the burden of too many choices.
In a novel, of course, one cannot assume that opinions expressed by the characters are those of the author himself–but in this case, it seems to me that they likely are, and this opinion appears to be shared by most commenters at Erin’s post.
What really struck me in Erin’s review is her remark that I am starting to think that this novel may amount to a fictional companion piece for Cass Sunstein’s Nudge..the referenced work being not a novel, but a book about social, economic, and political policy co-authored by Cass Sunstein, who is now runnning the Office of Regulatory and Information Policy for the Obama administration. (See a review of Nudge, Erin’s post about the book, and my post about some of Sunstein’s policy ideas.)
Government employee salaries + benefits + pensions = bubble.
Government schools K-12 = bubble.
Higher education = bubble.
MSM monopoly = bubble.
The foundations of the opposition are crumbling before our eyes.
We are on the verge of a table-clearing, systemic regime collapse.
Once in a century change is coming.
Be happy.
Rick cites a remark by Senator Christopher Dodd about the financial regulation bill: “No one will know until this is actually in place how it works.” My observation is that Dodd’s remark was actually true, and would have been true to a substantial extent even if the bill had been properly read, debated, and analyzed. A more perceptive man than Dodd might have seen this as a reason to avoid making such overwhelming changes all in one fell swoop.
Several years ago, I posted about the failure of the FAA/IBM project for a new air traffic control system. The new system was known as the Advanced Automation System and was intended to be “as radical a departure from well-worn mores and customs as the overflow of the czars,” in the words of a participant. Another participant described the radical ambitiousness of the project as follows:
“You’re living in a modest house and you notice the refrigerator deteriorating. The ice sometimes melts, and the door isn’t flush, and the repairman comes out, it seems, once a month. Then you notice it’s bulky and doesn’t save energy, and you’ve seen those new ones at Sears. The first thing you do is look into some land a couple of states over, combined with several other houses of similar personality. Then you get I M Pei and some of the other great architects and hold a design run-off…”