Mark Pennington
@Kaleidicworld
Professor of Political Economy at King's College London; Post-modern Austrian political economist, Foucault Fan, Hayek Fan, classical liberal individualist
A terrific piece. I would add, even if AI develops 'creative thinking' capacities this would not support a case for AI socialism. It would imply having competition between different AIs to mimic the competition between the imaginations of entrepreneurs in 'human centred' markets.
AI Can’t Replace Free Markets by @Marian_L_Tupy and @PeterBoettke wsj.com/opinion/algori…
Scientism comes in many forms - a terrific paper by Otto Lehto and Pablo Paniagua: tinyurl.com/mwk3wzuh
Excellent paper. I'd add two points. a) Markets allow for coordination without legibility - you don't need to understand prices to respond to them. b) Local communities often deliver excessive legibility - which is why so many people seeking freedom flee for the impersonal city.
In the European Economic Review, @ccoyne1, @AndrQuintas5 & I build on James C. Scott's work on legibility. We compare how legibility is developed across alternative institutional settings.
Really enjoyed talking to Nick and looking forward to this coming out. You don't need to buy into all of Foucault or post-modernism to recognise the overlaps between his power/knowledge concept and the Hayekian critique of scientism.
Had a fantastic conversation with @Kaleidicworld abt the overlap between Hayek & Foucault, libertarianism & postmodernism. Out in a few weeks on The @reason Interview. In the meantime, read his Foucault & Liberal Political Economy & check out his @mercatus pod w @PeterBoettke.
Milei is implementing policies based on a rejection of neo-classical economics - but you won't see any reference to those from Professor Chang.
ft.com/content/9aabb4…
My first time on the Hayek Podcast with the one and only Peter Boettke, speaking about Foucault and Liberal Political Economy. Hope you enjoy as much as I did: tinyurl.com/ybek26ad
There is much in Nietzsche that points towards the case for an ethical individualism - so I'm really looking forward to this book. Tragically, it appears that Andrew Duclos left the world at the age of just 25: tinyurl.com/4fksu9z7
AIs potential impact on the relative status of manual v desk work shows how market innovations can upset 'power relations' even if this is not their intent. Because 'the left' only sees value in deliberate efforts to 'dismantle' hierarchies -efforts that often fail - it…
A superbly crafted review of Quinn Slobodian's latest by Anthony Evans. Points out very deftly that the book has scarcely anything to do with Hayek's ideas - or even those of Mises - and should perhaps have been called 'Rothbard's Bastards.' tinyurl.com/mr3am8jx
I couldn't agree more. The idea that one should 'transform the world' evinces arrogance and not the sort of epistemic humility that a 'good' education should instill.
Here's a new paper where I argue we should stop telling young people to get out there and change the world. Open access link below.
I love it and highly recommend it. Very clearly written and it takes 'Austrian' arguments forward while also showing how the dominant neo-classical paradigm simply has no conception of what entrepreneurs do.
This little book, with a boring title, has received very little attention (or love). But the argument is actually quite radical. The obvious conclusion is that we need a new economics--and a new understanding of economic growth. cambridge.org/core/elements/…
Absolutely - Deleuze was a radical Hayekian - he just didn't realize it! The 'accelerationist' approach advocates injecting competition and emergence into socio-economic life to the fullest extent.
Spontaneous emergent order >> Lefties won't like it but the bottom right is Delueze & Guattari's Rhizome metaphor manifested.
Brilliant work from Sam Dumitriu. When I worked on planning in the 1990s I found that from 1960 - 1991 expenditure on planning bureaucracy increased 6 fold but applications processed increased by a mere 25%. It has carried on like that ever since - ludicrous bureaucracy for even…
In 1937, London built 80,000 homes. Last year, it built less than half that. To find out why, I looked at two different planning applications for a four-storey block of flats from now and back then. 1937: 3 pages long. 2025: 1,250 pages long.
For Foucault 'bio-power' involves the constant attempt to expertly 'treat' society and to 'administer, optimise, and multiply life by subjecting it to precise controls and comprehensive regulations.' Who can doubt that most 'liberal' democracies are now 'bio-political' states.
Very much looking forward to this event and to being on the platform. Classical liberalism is alive and well.
Join us July 7, 2025 for Session 2 of our annual conference at @UniOfBuckingham: On Classical Liberalism & Change. Chaired by Lord @SyedKamall, who will be joined by Dr. Phillip Magness, & Prof. Paul D. Aligica. Places are limited. Secure your spot now:tinyurl.com/57n3ryd4.
Coase is still hugely under-rated. There is more wisdom in the four papers, The Nature of the Firm, The Problem of Social Cost, The Lighthouse in Economics, and The Market for Goods and the Market for Ideas, than produced by most mainstream econ in the last 75 years.
"The whole point of competition is not to decide what to do at a given point and time, but it is concerned with the introduction of new products and new methods of distribution."
Foucault and Liberal Political Economy: Power, Knowledge and Freedom has been released in the USA today:
I'm not convinced but I'm looking forward to hosting this event with Sean Irving next week on a Hayekian case for worker cooperatives: You can sign up here: tinyurl.com/ywujub4a
There has never been a more important time to stand for individual freedom -not so called 'collective freedom' or 'national freedom.' Individual freedom does not preclude collective/national affiliations -but these have nothing to do with freedom if they are enforced by the…
This looks like a terrific course!
My colleagues and I at the Hong Kong Catastrophic Risk Centre recently developed a free online course on ethics and global catastrophic risks. If this subject interests you, you should check it out! (Link in the comments below.)