“Who could have foreseen that the central bank of the world’s leading welfare state would pilfer the name of an arms dealer and end up resurrecting the career of the leading opponent of socialism and central banking?” Hayek’s “Rejuvenating Event” : The Freeman : Foundation for Economic Education

In that second assessment, at least, she was obviously wrong. The history of ideas — and the impact of those ideas on actual freedoms in the real world — is complex, nonlinear, and thoroughly unpredictable. And the Austrians are clearly right about the nature of prediction: Who could have foreseen that the central bank of the world’s leading welfare state would pilfer the name of an arms dealer and end up resurrecting the career of the leading opponent of socialism and central banking?

via Hayek’s “Rejuvenating Event” : The Freeman : Foundation for Economic Education.

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