Economic Rationalization
The discussion delves into the challenges of weighing relative well-being among diverse groups, highlighting the intellectual pitfalls of welfare economics. There's a critique of economists' confidence in their ability to engineer societal outcomes, emphasizing the seductive nature of their claims while acknowledging the potential for significant trade-offs. The conversation also touches on the historical dominance of certain economic schools of thought between the 1950s and 1980s, pointing to a broader intellectual struggle within the field.In this clip
From this podcast
EconTalk
Who Won the Socialist Calculation Debate (with Peter Boettke)
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