Charles Edison

"Economics, politics, and personalities are often inseparable." - Charles Edison

Wednesday, March 7, 2012

Hayekian Beliefs

After studying and learning a
little more about the Hayekian economical views, I become even more strongly
against it as I observed the full understanding of the concept. In the beginning
all I believed the system to be was that the government should stay out of economic
affairs and let them sort out by themselves. Later on after researching a
little further, I came upon the true meaning and over view of the entire belief
system. Not only is someone who believes Friedrich Hayek’s beliefs agreeing
that the economy should sort itself out but as well as racism as well. Hayekian
believers thought that slavery should still be a part of the society because it
was a part of life in many previous cultures. A more recent issue would be the
Civil Rights Movement. Hayekian believers would say that it is rational to not
step in and segregate but simply stand back and let the whites and blacks
handle matters on their own. After time has allowed this belief system to
develop, the Hayekian followers have been able to cope with the basic principle
of morals. This has allowed the Hayekians to adapt and realize that the
abolishment of slavery was in the best interest of the society. After reading
and understanding more on Hayeks beliefs, I was able to conclude that adopting
this concept into the U.S. would not only hurt our economy but as well as the
entire nation as a whole.

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