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Reply #164: Nah [View All]

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Home » Discuss » Archives » General Discussion (1/22-2007 thru 12/14/2010) Donate to DU
anaxarchos Donating Member (963 posts) Send PM | Profile | Ignore Sun Oct-07-07 11:01 PM
Response to Reply #92
164. 
"It is quite a leap of rhetoric to turn Robbins into a sycophant of Bhm-Bawerk's, merely from the fact that the latter was one of several economists who influenced Robbins. For what it is worth, economists are still influenced by Walras and Pareto."

In fact Robbins appointed Hayek because of the LSE's intramural contest with Cambridge. Not only did Cambridge have all the good Marshallites but they had Keynes. The one skill the "Austrians" always claimed for themselves was a ruthless polemical style. That is what had originally given some little prominence to the flea and to Menger (in their debate with the Germans at the turn of the century). Hayek started out as a shill in this "tradition".

So how did Hayek do? Not so well judging by the fact that Robbins himself became something of a Keynesian. More, one of the biggest influences on Robbins was Frank Knight, the head of the first Chicago School of Economics. It is an open secret that Knight blocked Hayek from getting a paid faculty position at the University of Chicago. Its not a good omen when even your own guys wont give you a job.

Yes, I am aware of the retroactive praise that the Libertarian press heaps on Hayek in London. Amazing what a few billion dollars do for favorable reviews, post festum, isnt it? But, accept a small challenge from me: the original scholarly reviews of Hayeks Road to Serfdom are in large part available on the web. Find a single one that is favorable and was not written by a fellow-traveler or by Hayeks mother.

Yes, I think they were all hacks. But even if they werent, it wouldnt matter to the article. Then, Volker would have found some smart people to use to make-up an ideology. You travel very far a field, to prop up the Austrians (Im not even going to mention Spencer). Walras and Pareto? I kinda agree about Pareto but Walras is entirely another kettle of fish.


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