Tuesday, 21 September 2010

Championing The Cause Of Free Markets In Water

"Economic calculation is extremely difficult because, unlike ecology, it is an art, not a science and it is fraught throughout with uncertainty an order of magnitude greater than that of analyzing the surrounding ecology, for it depends on observing, attempting to understand and taking risks on movements in the prices of relevant goods and services over time – all of which depends on the decisions of so many individuals. For this reason, any attempt at grand-scale, long term planning merely exposes the planners and their grand-scale planning further to unforeseen dangers."
That's me landing a Hayek hook in another sparring match with Turton. The argument from ethical premises is of course the heavy right hander here (basically: theft is wrong but voluntary exchange is OK), but I can tie that right hand behind my back and, even though I'm not on especially good form here, I can still knock Turton and his mates about with left-handed consequentialist jabs. That's because of how and where I stand...

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