Some Hayek-Related Links

Via Twitter via Evonomics: ‘Hayek Meets Information Theory. And Fails.

So, replacing prices in a marketplace with AI deep learning models is apparently the way to go (reducing your knowledge, experience, and behavior to input nodes channeled through possible optimization distribution paths).

Let’s ignore the bureaucratic/political incentives for a moment…for man is a political animal.

Our author:

‘The understanding of prices and supply and demand provided by information theory and machine learning algorithms is better equipped to explain markets than arguments reducing complex distributions of possibilities to a single dimension, and hence, necessarily, requiring assumptions like rational agents and perfect foresight’

From the comments, a response:

‘His [Hayek’s] crucial point is that market prices perform a co-ordination function, allowing people to act AS IF they had the relevant knowledge.’

Also, epistemologically speaking, from the comments:

Indeed it is a central tenant of Austrian school economics (of which he was not quite a founding member, but is perhaps its most thoughtful member) that the efficient market hypothesis is false, that markets are never actually in equilibrium, that people are not perfectly rational agents, and that they most definitely do not have (and cannot have) perfect foresight.’

Your price re-allocation command console awaits, Captain.


On that note, Mark Pennington’s Robust Political Economy: Classical Liberalism and the Future of Public Policy comes recommended.

Full diavlog here.

Duke professor Bruce Caldwell talks about his then new book on Hayek, an intellectual biography.

Repost-From Public Reason: A Discussion Of Gerald Gaus’s Book ‘The Order of Public Reason: A Theory of Freedom And Morality In A Diverse And Bounded World’

.A Few Thoughts On Isaiah Berlin’s “Two Concepts Of Liberty” …

Repost-Cass Sunstein At The New Republic: ‘Why Paternalism Is Your Friend’

Repost-The Duran Duran Phenomenon, High And Low Art In The Modern Anglo-Sphere

For you kids out there, Duran Duran are a band from Birmingham, England who made it big in the 80’s. They succeeded with genuine musical talent, technical and marketing prowess, a new-romantic visual-style, and presumably, somewhat deeper artistic aspirations.

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There are, no doubt, trade-offs people in the Anglosphere make, living with our particular Anglo-focus upon government, law, trade, and generally speaking, more open markets. There are reasons English is spoken so widely, after all, while the food has remained so bad.

Traveling abroad while younger, I often observed the American genius as a kind of egalitarian gathering of talent; general and specialized, ambitious and organized.

Such ‘Americanness’ can be shrewd, though it often comes with a certain optimism and idealism, for which Americans are known.

This is the stuff of American diplomacy, international lawyering, and business management. American advertising techniques, Hollywood movies, franchises like Starbucks and Apple, all can earn almost instant global recognition (if you’re not too far off the beaten path).

As an American, I claim a certain pride, here.

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That said, deeper artistic aspirations also tend to seek nourishment apart from such commercial populism and American egalitarianism in particular.

The accomplished artist probably had a lot of natural talent to begin with, but also joins in conversation with serious past talent and endures critique of his development, spends years of life engaged in hard work, and perhaps profits from greater tilt in the culture towards admiration for artists in general.

See: ‘Tradition And The Individual Talent’

This can send many American artists out on a mission to gain technique and skills elsewhere. This can fill many American cultural critics with a sense of European yearning and envy, and this can leave some Americans indulging in rather cheap, unimaginative commercialist America-bashing that usually lines-up with preconceived political/ideological commitments.

It’s here in the modern to postmodern to wherever-we’re-heading-now that, as an American, I find much of my daily life being lived.

For me and many of my fellows, the latest shows, pop-music, games and movies are the culture, even though we all have deeper ambitions and aspirations, and even if much of that culture has deeper roots of which we remain unaware.

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Here’s Robert Hughes from The Guardian on Damien Hirst: ‘Day Of The Dead’

‘If there is anything special about this event, it lies in the extreme disproportion between Hirst’s expected prices and his actual talent. Hirst is basically a pirate, and his skill is shown by the way in which he has managed to bluff so many art-related people, from museum personnel such as Tate’s Nicholas Serota to billionaires in the New York real-estate trade, into giving credence to his originality and the importance of his “ideas”. This skill at manipulation is his real success as an artist. He has manoeuvred himself into the sweet spot where wannabe collectors, no matter how dumb (indeed, the dumber the better), feel somehow ignorable without a Hirst or two.’.

I’m guessing Hughes loathed such confusion over money, art, fame, and our deepest aspirations, and thought such an approach prevents everyday people from entering into conversations with the everyday in great works of art. I find myself attracted to his marriage of Anglo-tradition and more ‘high’ European art-criticism.

For my part, I’d simply argue that more open markets in the Anglo-sphere offer a lower bar to reach a larger audience with one’s artistic ambitions. Such a marriage of art + market may be less likely to happen, in, say, Spain or France.

Perhaps this is true of Duran Duran, Damien Hirst, and various others with some natural talent and access to a wider audience through a global supply-chain.

This lower bar, in turn, can allow for perhaps more questionable art and marketing jargon; postmodern concept-shilling and various bullshit promising freedom within stale ideology and often poorly-executed art.

Or, at least, the above comes with its own Anglo-character.

(Addition: I should add that it gives more people easier access to make and gain exposure to the arts, which benefits a lot more people, but also puts the artist, and modernists, especially, in tension with the really hard task of making something beautiful which can last. Does good art have to be hard, and be made free of ‘The People?,’ or at least the passing fads, genres and styles that come and go?)

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Thanks to a reader for the link:

From The Daily Beast: ‘Get Into Bed With Tracey Emin For $2 million: The Sale Of A British Art Icon.’

“My Bed” will be sold at auction at Christie’s on July 1, and has been given an estimate price of between £800,000 and £1.2m (approximately $1.35 million to $2 million), which seems astonishingly low given the piece’s cultural impact. Indeed, David Maupin, Emin’s dealer in New York who sold the bed to Saatchi in 2000 for £150,000 (about $252,000), has said he thinks the Christie’s estimate is too low. “It’s historic. It’s priceless.”

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‘Cultural impact.’ So, a lot of people noticed it? It took a lot of technical skill? People were shocked by it? People had a strong reaction after seeing it in person?

It made her a celebrity?

I generally prefer the art dealer’s self-interested marketing bulls**t to a journalist’s ‘cultural impact’ claptrap.

Quote found here at friesian.com:

‘Oddly enough, it is the intellectual snobbery and elitism of many of the literati that politically correct egalitarianism appeals to; their partiality to literary Marxism is based not on its economic theory but on its hostility to business and the middle class. The character of this anti-bourgeois sentiment therefore has more in common with its origin in aristocratic disdain for the lower orders than with egalitarianism.’

Related: From Darwinian Conservatism: Nietzsche-Aristocratic Radical or Aristocratic Liberal?

Another pomo quote from Dr. Steven Hicks:

‘In the shorter term, postmodernism has caused an impoverishment of much of the academic humanities, both in the quality of the work being done and the civility of the debates. The sciences have been less affected and are relatively healthy. The social sciences are mixed.

I am optimistic, though, for a couple of reasons. One is that pomo was able to entrench itself in the second half of the twentieth century in large part because first-rate intellectuals were mostly dismissive of it and focused on their own projects. But over the last ten years, after pomo’s excesses became blatant, there has been a vigorous counter-attack and pomo is now on the defensive. Another reason for optimism is that, as a species of skepticism, pomo is ultimately empty and becomes boring. Eventually intellectually-alert individuals get tired of the same old lines and move on. It is one thing, as the pomo can do well, to critique other theories and tear them down. But that merely clears the field for the next new and intriguing theory and for the next generation of energetic young intellectuals.

So while the postmodernism has had its generation or two, I think we’re ready for the next new thing – a strong, fresh, and positive approach to the big issues, one that of course takes into account the critical weapons the pomo have used well over the last while’

Thursday Quotation: Edmund Burke On The French Revolution

‘A state without the means of some change is without the means of its conservation.  Without such means it might even risque the loss of that part of the constitution which it wished the most religiously to preserve.  The two principles of conservation and correction operated strongly at the two critical periods of the Restoration and Revolution, when England found itself without a king.  At both those periods the nation had lost the bond of union in their antient edifice; they did not however, dissolve the whole fabric.’

Edmund Burke, commenting on the French Revolution, in The Evils Of Revolution, What Is Liberty Without Wisdom And Without Virtue It Is The Greatest Of All Possible Evils, New York, NY. Penguin Group (USA) Inc., 2008.  Pg 8.

Graeme Wood At The Atlantic-‘His Kampf: Richard Spencer Is A Troll And An Icon For White Supremacists. He Was Also My High-School Classmate’

Full piece here. (Includes audio interview)

To be fair, I think Wood offers a decent piece of journalism (interviews, phone calls, research etc.); a well-written, longer-form work I find to be in shorter-supply these days.

In it, he highlights Spencer’s Nietzschean-influenced intellectual aspirations and populist ambitions to become a mouthpiece for alt-right advocacy (serious enough to get attention, unserious enough to be poseurish and pathetically fascistic..which means Spencer may not represent more than a vocal minority, even on the alt-right……feel free to send some data my way).

To be critical: What I think Wood misses, and what many anti-Trumpers and liberal ‘gentry’ miss (Trump is an opportunist if there ever was one), is that Richard Spencer (an opportunist if there ever was one) isn’t enjoying his moment in the sun alone.   The kind of black bloc, antifa radicalism which Spencer publicly addresses is clearly ok using violence on the way to radical and revolutionary freedom.

This leads to the most persuasive arguments I’ve heard criticizing modern liberalism:  It’s all too easy to ignore the true-believers, radicals, poseurs and nutbars (they’re our bastards) beneath one’s own platform, especially if they share some version of one’s own cherished beliefs and ideals.

Left and Left-liberal idealism prospers and is even institutionalized at places like Berkeley (no shortage of anti-racist, neo-Marxist, anti-establishment, anti-capitalist sentiment at Berkeley), which helps fuel radicals which help fuel the Richard Spencers.

Fascists and anti-fascists sure can come to resemble one another, trading tired power theories, hitting each other over the head, and trying to squeeze some meaning from similar principles while showboating through the nihilistic void.

Frankly, they deserve each other, and they deserve to be marginalized by the rest of us.

***I don’t think one need be a Nietzschean nor Nietzsche-inspired, nor a Nietzsche-reacting sort of Straussian (from H.L. Mencken to Leo Strauss to Camille Paglia to John Gray) to seriously question the modern liberal and secular human project, and help offer perspective.

But, it probably helps in understanding the fascist tendencies of Spencer and his enemies/allies..

Addition: I should make it clear that Nietzsche didn’t have much truck with fascists, and that he diagnosed, from the depths of his own nihilism, a lot of the crises that would come to face Europe…as for folks like Spencer, they seem to get enough nihilism to carry around while looking for meaning/purpose/identity/belonging elsewhere (in fascist movements)

Repost-From Darwinian Conservatism: ‘Nietzsche–Aristocratic Radical or Aristocratic Liberal?’

 Here’s Nietzsche scholar J.P. Stern on Nietzsche’s anti-Christian, anti-secular morality (Kant, utilitarians), anti-democratic, and anti-Greek (except the “heroic” Greek) biases

On this site, see also:

-Graeme Wood At The Atlantic: ‘The American Leader In The Islamic State’

Hitchens could be entertaining, especially on grounds I’m guessing he knew instinctively well as a former Trotskyite: Ideologies, while highlighting truths, promise a one-stop shop on truth, knowledge, how to be in the world, what to do and what the future will be.

People can kill for less, and when they adhere to such systems, then they can end-up killing more:

Via a reader.  Platonic idealism has advantages in restoring both idealism and realism into political debate, but also drawbacks.  It can be a bulwark against moral relativism, which is a modern soup in which Left and Right fascism can be found simmering.

A Podcast From BritainE30 | Dreaming The Future | Natalie Bennett, Phillip Blond, Roger Scruton

Related On This Site: -Repost: Various Products Of Radical Reason And Reactions To Them- John Gray At The New Statesman

-Some thoughts on Fukuyama and Leo Strauss: Update And Repost- From YouTube: Leo Strauss On The Meno-More On The Fact/Value Distinction?’

Out of the Valley of modernism, post-modernism, and relativism…one path from Nietzsche’s nihilism is through Leo Strauss and Allan Bloom: Update And Repost: ‘A Few Thoughts On Allan Bloom–The Nietzsche / Strauss Connection’Some Tuesday Quotations From Leo Strauss

Peter Singer discusses Hegel and MarxFrom Philosophy And Polity: ‘Historicism In German Political Theory’

Tuesday Poem-T.S. Eliot

Cousin Nancy

Miss Nancy Ellicott
Strode across the hills and broke them,
Rode across the hills and broke them—
The barren New England hills—
Riding to hounds
Over the cow-pasture.

Miss Nancy Ellicott smoked
And danced all the modern dances;
And her aunts were not quite sure how they felt about it,
But they knew that it was modern.

Upon the glazen shelves kept watch
Matthew and Waldo, guardians of the faith,
The army of unalterable law.

T.S. Eliot  

Matthew=Matthew Arnold. Waldo=Ralph Waldo Emerson

**Thanks for stopping by, but I’m working full time as blogging’s not a paying gig, it seems.