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Societies for the History of Economics

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From:
[log in to unmask] (Pat Gunning)
Date:
Fri Mar 31 17:18:39 2006
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----------------- HES POSTING ----------------- 
 
Bogdan, I guess that I misunderstood you and it is possible that I will 
do so again. Anyway, because its summer and I have a few extra minutes, 
I will try to answer your question. You might also consider asking it on 
the Hayek list, where there is probably a greater proportion of 
political philosophers than there are on this list. 
 
I think that the main reason why economic arguments are now brought to 
bear on political philosophy is that economics begins with the 
demonstration that under certain _conditions_, individuals acting in 
their own interest will benefit the interest of others, as those others 
define it. The exceptions are certain cases of external effects, public 
goods, and the collusive monopoly. Two of those conditions are private 
property rights and freedom of enterprise. Neither of these conditions 
is unambiguous. However, the fact that the vast majority of experts in 
the field of economics accept this idea means that for those who care 
about whether people serve each others interests, there is a strong case 
for establishing institutions that promote these two \"liberal\" 
conditions. Note that, for the most part, economics developed _after_ 
Locke\'s writings. Thus, it is not surprising that those who follow Locke 
would pay less attention to economics. 
 
I don\'t know whether the argument you attribute to Hayek is an economic 
one or not. It seems to me that he is saying that people who have their 
lives planned for them will not develop the ability to plan for 
themselves, just as a child who is given a shoe-tying servant for life 
will never develop the ability to tie her shoes. Hayek seems to regard 
the ability to plan for oneself as a desirable characteristic of 
individuals in society. I am not sure that this has much to do with 
economics, however. 
  
Pat Gunning 
American University of Sharjah, United Arab Emirates 
 
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