[Ask the Gulch] I have been looking at objectivist economic theory in terms of Adam Smith, Friedrich Hayek, and Steven Strogatz (Spontaneous order). I see an emerging mathematical model that is consistent with Ayn Rand's view of a successful economic system.
Posted by ProfChuck 9 years, 4 months ago to Ask the Gulch
I think that was the failure of Keynes (who was a mathematician) and the government that followed his descriptions and policies.
edit: clarify
I do not think you can square objectivism with Hayek or Smith. Both are part of the English enlightenment and fans of David Hume. Hayek is explicit that he does not think reason can tell you anything about ethics or that you can logically/rationally derive a social system. For more see https://www.youtube.com/watch?v=bkwILXhh...
Spontaneous order provides a testable explanation of why free trade systems work and why collectivism and central planning systems fail. It also suggests a strong linkage between a moral framework and success.
Spontaneous order succeeds in the market place when there are a large number of participants each pursuing their own objectives and goals. How is that different from objectivism?