Blagnet.net

Ecological and Austrian theory

I’m in more of a link-and-run mood than a quote-and-philosophize mood (read: I’m short on time lately), so here’s an interesting blag post from Liberty & Power: Ecological and Austrian theory, about the similarities between ecosystems and economic markets and the disconnect between people who advocate a “hands-off” or laissez-faire attitude towards one but who see no problem with intervention or dirigisme towards t’other.

People who are exquisitely sensitive to distortions generated in markets by external political intervention enthusiastically endorse central control or overriding of ecological processes.

For their part, many environmentalists who are well versed in ecological understanding are insensitive to the deep distortions arising from political intervention in the market. Sometimes they blame markets for what is really the result of political intervention. Sometimes they seek political intervention without appreciating how it is likely to backfire.