Hayek watched the interwar collapse with horror, as Keynes did, and shared many of Keynes’s liberal values. What he failed to understand is that thes… - John N. Gray

While the Marxist faith in central planning is now confined to a few dingy sects, a quasi-religious belief in free markets continues to shape the policies of governments.<p>Many writers have pointed to the havoc and ruin that have accompanied the imposition of free markets across the world. Whether in Africa, Asia, Latin America or post-communist Europe, policies of wholesale privatisation and structural adjustment have led to declining economic activity and social dislocation on a massive scale.

How we come to have the world-views we do is an interesting question. No doubt reason plays a part, but human needs for meaning and purpose are usually more important. At times personal taste may be what decides the issue. There is nothing to say that, when all the work of reason is done, only one view of the world will remain. There may be many that fit everything that can be known. In that case you might as well choose the view of the world you find most interesting or beautiful. Adopting a world-view is more like selecting a painting to furnish a room than testing a scientific theory. The test is how it fits with your life.

The true goal of the bourgeois life, in other words, is not self-enactment, but diversion. Most people need the organised distraction of work (if they can find it). Idleness - the life of the playboy who doesn't answer the phone - is simply too demanding.