Planning the End of Planning: Disintervention and the Knowledge Problem

[presence]

Kyle O’Donnell is a third year PhD student in the Department of Economics at George Mason University and a Mercatus Center PhD Fellow. Kyle was selected as a Koch Summer Fellow in 2010. He earned a BA in History and Economics from Purchase College, State University of New York. Kyle’s research focuses on drug prohibition and the knowledge problem.


http://mercatus.org/kyle-odonnell

Planning the End of Planning:
Disintervention and the Knowledge Problem

Kyle O'Donnell - Purchase College, SUNY

ABSTRACT:

State intervention inevitably fails due to the inherent flaws as highlighted by Austrian political economy. Interventionism distorts prices, disrupts the competitive discovery process, and is socially harmful. Disintervention is posed as a solution, yet typical disintervention is often a centrally planned solution to the problems inherent to central planning. In many ways intervention and disintervention share key similarities and key flaws. Whereas the typical Austrian critique is a largely one way story, this essay will examine more closely the problem of disinterventionism by applying much of the same framework used to critique various forms of interventionism. In the end I paint the picture that (centrally planned) disinterventionism suffers in many of the same ways as its interventionist sibling.

http://www2.gcc.edu/dept/econ/ASSC/P...20-%20ASSC.pdf






all emphasis, [bracketed text], and hyperlinks hereafter are mine
see pdf for author's notes and works cited



END THE FED!