Hayek Said the Sky is Blue
By Arnold Kling
My favorite line from Bryan’s debate about Austrian economics.
Substantively, though, I would disagree with Bryan on the issue of entrepreneurship. I do not think of entrepreneurship in terms of search theory. In From Poverty to Prosperity, we describe the role of entrepreneurs as overcoming resistance to change.
I also recommend Boettke’s answer to Alex Tabarrok’s question in this segment. He chides Austrians for betting on Clower and Leijonhufvud rather than Lucas. One can argue that I am making a similar bet. However, don’t push me too hard on what Clower and Leijonhufvud really meant. I have a hard enough time keeping straight what I really mean.