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Hayek may still have lessons to teach us. The policies he recommended during the Great Depression may have been badly flawed but his insight that pro… - John N. Gray
" "Hayek may still have lessons to teach us. The policies he recommended during the Great Depression may have been badly flawed but his insight that prosperity cannot be restored by unending expansion of debt may have some value at a time when the limits of “Keynesian” quantitative easing are becoming clear. It is in any case far from obvious that Keynes would have supported a continuation of QE once a disastrous collapse had been averted. “Keynesianism” is a confection of Keynes’s more mechanical disciples, not an indication of how this mercurially brilliant mind would have responded to our present dilemmas. Again, Hayek’s claim that nothing can be done to mitigate the impact of free markets on social cohesion was dangerously misguided. But he was right to point out that capitalism cannot be remodelled to fit some conception of an ideally fair distribution of resources. Whether any kind of social democracy can be reconciled with the anarchic energies of global markets is an open question.
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About John N. Gray
John Nicholas Gray (born 17 April 1948) is an English political philosopher with interests in analytic philosophy and the history of ideas. He retired as School Professor of European Thought at the London School of Economics and Political Science. Gray contributes regularly to The Guardian, The Times Literary Supplement and the New Statesman, where he is the lead book reviewer.
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Additional quotes by John N. Gray
Instead of enabling humans to improve their lot, science degrades the natural environment in which humans must live. Instead of enabling death to be overcome, it produces ever more powerful technologies of mass destruction. None of this is the fault of science; what it shows is that science is not sorcery. The growth of knowledge enlarges what humans can do. It cannot reprieve them from being what they are.
In Kleist’s essay humans are caught between the graceful automatism of the puppet and the conscious freedom of a god. The jerky, stuttering quality of their actions comes from their feeling that they must determine the course of their lives. Other animals live without having to choose their path through life. Whatever uncertainty they may feel sniffing their way through the world is not a permanent condition; once they reach a place of safety, they are at rest. In contrast, human life is spent anxiously deciding how to live.
From a Darwinian point of view, human beliefs are adaptations to our part of the world. No doubt much of what we believe must be roughly accurate, or else we would not have survived. But the beliefs we have evolved might latch on to the world only enough to help us stumble our way through it, and then only for the time being. Human belief-systems could be useful illusions, appearing and disappearing as they prove to be more or less advantageous in the random walk of natural selection. Might not evolution be one of these illusions? Scientific naturalism is the theory that human beliefs are evolutionary adaptations whose survival has nothing to do with their truth. But in that case scientific naturalism is self-defeating, since on its own premises scientific theories cannot be known to be true.
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