Explore Freedom » Daily Articles » Freedom Daily Archive

Freedom Daily Archive


50 Years Ago: Hayek’s Nobel Lecture on “The Pretense of Knowledge”

by
Fifty years ago, on October 9, 1974, what has become known as the Nobel Prize in Economics was announced for that year in Stockholm, Sweden. It was a joint award to Swedish economist Gunnar Myrdal (1898–1987) and Austrian economist Friedrich A. Hayek (1899–1992). Many in the economics profession would not have been particularly surprised by Myrdal being declared a ...

Protectionism Is More Idiotic Than It Looks

by
Donald Trump’s re-election assures that protectionism will become even more fashionable inside the Beltway. Trump recently declared that tariff is “the most beautiful word in the dictionary,” and the exaltation of trade barriers has become the latest political mania. Washington hustlers are loudly promising to enrich the nation by selectively blockading American ports. Unfortunately, the Trump team and the ...