It seems a matter of routine that Frederich Hayek and his crowd get cited when some economist of another wants to echo the championing of what we wishfully call the Free Market. Hayek built some of the foundation for the Friedman/Buchanan/Thatcher/Reagan/Etc/Etc philosophy of the golden shower trickle down theory of economics used so frequently to stock the Kochs’ larders and kiss DJT’s posterior.
Hayek had an evil twin, Karl Polanyi, who, along with Hayek, was graced with a “Nobel” in economics, but whose book, The Great Transformation, has been mouldering away in corners of libraries, collecting dust, when not being used as fire starter, bird cage liner and more ignominious uses by the victims of Hayek’s triumphant selfishness. Simply, Polyani posited that collective action was more likely to produce general prosperity than rugged individualism. I read this twenty years ago following up on some things I had read in Linda McQuaig’s works, and I had to read it in French because that was the only copy available on inter-library loan.
This all comes up because Manny Mac over in the Elysée Palace is having to come to grips with some economic/social, hence political. conundrum, and imagine my surprise when I saw this as a head on the front page of Libération:
My concern, of course, is that the whole planet could spiral down the crapper even in the infinitesimal amount of time that the sharpest of French minds would consume in reading the Polanyi treatise. Too bad, so sad, but we could perish knowing that help might have been headed our way.