Posts tagged with: F. A. Hayek

daniel-isaacsIs it possible to be both a Christian and a libertarian?

In a forthcoming book, Called to Freedom: Why You Can Be Christian & Libertarian, six Christian libertarians offer an emphatic, “yes,” exploring key tensions and challenging a range common critiques (whether from conservative Christians or secular libertarians). The project is currently seeking funds via Indiegogo, where you can donate or pre-order your copy.

Having already discussed the topic on numerous occasions with two of the book’s authors – Jacqueline Isaacs and Elise Daniel – I asked them a few questions about their latest endeavor, the overarching ideas, and what they hope to achieve.

How did you become libertarian Christians?

ED: I grew up in a Christian, conservative home. Because of my upbringing, I always assumed Christians were also conservatives. Growing up, I didn’t know much about libertarians, other than that they wanted to legalize drugs, so I thought there was at least some sort of moral gap between Christians and libertarians. I grew stronger in both my faith and political convictions in college. I studied economics and attended an economics seminar on free markets. It was there that I was first introduced to Austrian economists like Ludwig Von Mises and Friedrich Hayek. For the first time, I was thinking about economics from a classical liberal framework, and it made a lot of sense to me. During the seminar, I had conversations with students and professors who called themselves libertarian and realized some of my assumptions — like that libertarians were all moral relativists — were false. I came out of that week with serious doubts about the role of liberty in modern conservatism and more respect for the libertarian perspective. (more…)

We welcome guest writer Stephen Schmalhofer to the PowerBlog with this review of Good Profit: How Creating Value for Others Built One of the World’s Most Successful Companies by Charles Koch (Crown Business, 2015). Schmalhofer writes from New York City, where he works in technology and venture capital. He is a graduate of Yale University.

Charles Koch’s Metaphysics of Business

By Stephen Schmalhofer

Adam Smith, that venerable a supporter of free enterprise, held businessmen in low regard, alleging that their every meeting “ends in a conspiracy against the public, or in some contrivance to raise prices.” While deference is due to the Scottish master’s lasting insights into the sources of the values of men in The Theory of Moral Sentiments and their success in The Wealth of Nations, I observe that many executives tout their “core values” but not all of these companies are successful. Businessman and philanthropist Charles Koch is successful by any financial measure and his unique approach to the creation of value and values at Koch Industries in Wichita, Kansas, where he is chief executive officer, positions him against Smith’s caricature of scheming backroom businessmen.

Charles Koch

Charles Koch

Since 1967, Koch has overseen operations at Koch Industries where he developed and implemented “Market-Based Management.” Following a large acquisition by Koch Industries in 2004, he urgently systematized the method and continues to share it with the fervor of an evangelist. Koch’s first book on the method was grandiosely titled The Science of Success: How Market Based Management Built the World’s Largest Private Company but in 2015 he re-entered the marketplace of ideas with a more accessible version — Good Profit: How Creating Value for Others Built One of the World’s Most Successful Companies.

Removing the pretense of science from the title better reflects the method’s foundation in the ideas of spontaneous order and the price system articulated by Austrian economist F.A. Hayek rather than in the pseudo-scientific central planning opposed by the Nobel laureate. Koch Industries’ business model is based on acquiring complementary companies that either enhance, or can be improved by, the performance of existing Koch business units. Koch managers seek to integrate these new acquisitions into the company’s operations to realize the expected gains from economies of scale and knowledge sharing. But this integration can blunt the information signals provided by external networks as well as create wasteful internal political battles, especially over budgets and other signs of corporate status unrelated to “good profit.” (more…)

From EconStories.tv:

According to the National Bureau of Economic Research, the Great Recession ended almost two years ago, in the summer of 2009. But we’re all uneasy. Job growth has been disappointing. The recovery seems fragile. Where should we head from here? Is that question even meaningful? Can the government steer the economy or have past attempts helped create the mess we’re still in.

John Maynard Keynes and F. A. Hayek never agreed on the answers to these questions and they still don’t. Let’s listen to the greats. See Keynes and Hayek throwing down in “Fight of the Century”.