'..many different directions depending on the ideas that prevail in their wake..'

<blockquote>'Our Uncertain World

Now, look at this from a Hayekian lens. This lens asks us to be humble in the face of an unknowable future and the uncertainty of a world that constantly resists planning and top-down rule. Here we can begin to make sense of what has happened.

Now, to be sure, there are dangers ahead. No one can deny that. The great risk is replacing a failed paradigm with yet another one of a different flavor. Maybe it will be worse. There is no way to know for sure until it happens. But here is where the role of ideas comes into play, and where the role of public intellectuals and institutions like the Foundation for Economic Education truly matter.

What we've learned from populist revolutions past is that they can turn in many different directions depending on the ideas that prevail in their wake. We've learned that it is not enough to hate the status quo and overturn an existing ruling class.

We need to be clear on what it is that we love, what kind of society we want to live in, what kind of people we want to be, how we regard our fellow human beings, what kind of ethical core should be at the center of our lives.

Here the liberal tradition has the answer. We need peace. We need opportunity for all, leading to a shared prosperity. We can depend on the spontaneous order to build the kind of world we desire. We can't plan it from the top. It must be ordered from below, through the lives, choices, behaviors, and decisions of millions and billions of people who are pursuing happiness above all else.

Speak Out with Courage

In other words, this is not the time to sit in stunned silence, much less join the chorus of people who are cursing the darkness around us or wishing that what is already done had occurred in a different way. This is the time for Leonard Read's candle to be lit and passed around the room, from person to person, room to room, city to city, nation to nation, all over the world.

Maybe this is it. Maybe this is the opportunity we've waited for for so long. It hasn't taken the form we expected, or even wanted. So it goes in life. No one explained this better than Hayek. We've been granted a glorious opportunity. The world is seeking out a new answer.

We are living in times that Thomas Kuhn would call "pre-paradigmatic." The old is going away, or already gone. What the future holds depends on the ideas that prevail in the great intellectual struggles of public life. I hope we all do what we can to shed light and wisdom on the present and for the future.

As Hayek said, this task will consume the whole of our lives going forward.'

- Jeffrey Tucker, This Could Be Our 1989, November 11, 2016</blockquote>


Context (Praxeology) - '..Menger’s experience stressed subjective factors..'

<blockquote>'..We still have too much debt, not just in the US but around the world. Budget deficits are out of control, not just in the US but around the world..'

'..to encourage productive investment at every level..'

(Haptopraxeology) - '..We have lost three centuries as a result of ignoring our scholars!'


'..saving, wise investment and production are what creates wealth, not spending and consumption..'

(Praxeology) - '..his or her subjective values .. to explain all economic phenomena as the results of what people do..'

'..the Great Depression .. was caused – like our crisis today – by too much debt.'


'..economic growth cannot be conjured into being by top-down interventionism in the form of monetary pumping and deficit spending..'</blockquote>