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Sean's avatar

Even if they're not exactly right on everything (who is?) the Austrian economists and Mises Institute produce more content that's accessible to the general public than anyone else. I don't think it's even close. They do a tremendous job of trying to teach lay people economics and libertarian theory. Your story of back and forth correspondence with Block is great anecdotal evidence of this as well. If it weren't for them I wouldn't know half of what I do today about economics or libertarianism.

Their ardent defense of free markets that verges on dogmatism doesn't bother me either. I would take a million times more of it to balance out what people normally think and hear. I prefer your approach, to be sure, but I still find what they do incredibly valuable. To call him the biggest jackass is really myopic.

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J. C. Lester's avatar

"Error #1: Ignoring human irrationality. Throughout his book, Block consistently ignores the possibility that human beings systematically misunderstand their own interests."

People can "systematically misunderstand their own interests" and make all sorts of mistakes. But is this really "irrationality"? Using their reason, people attempt to act as they think is best at that moment in the perceived circumstances. That people are always rational in this sense, is why we should reason with them rather than dismiss or override their choices as being "irrational". https://jclester.substack.com/p/adversus-adversus-homo-economicus

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