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Politically Impossible? W.H. Hutt

Politically Impossible?

W.H. Hutt

Published January 11th 2011
ISBN :
Kindle Edition
110 pages
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 About the Book 

Should economists curb their rhetoric and prescriptions based on political realities? Should anyone attempt to conceal the truth about state intervention for fear of not fitting into the existing political culture?Many people answer yes to bothMoreShould economists curb their rhetoric and prescriptions based on political realities? Should anyone attempt to conceal the truth about state intervention for fear of not fitting into the existing political culture?Many people answer yes to both questions. They claim that taking a hard-core position in favor of freedom threatens to make one irrelevant or discredit ones message.W.H. Hutt is one of the few economists who addressed these strategic questions directly. As one of the most eminent economists of the 20th century, and a colleague and friend of Ludwig von Misess, he was very qualified to do so. The result is this monograph, a classic of sound economic literature.Hutt argues that the political culture, the culture of public opinion, is no more than the dominant strains of thought and convictions held by the common person. Those convictions are in turn shaped by the ideas and opinions asserted by intellectual leaders. Particularly on economic questions, it is the economists who shape economic opinion.If economists are constantly pulling back from stating their convictions — relentlessly withholding their true views and predictably kowtowing to political leaders — then neither public opinion nor policy will change.This is irresponsible, Hutt says. Economists should never excuse their own silence on the grounds that their prescription is politically impossible. On the contrary, the more economists tell the truth, the more politically possible freedom becomes.Hutt applies his point in a wide range of areas: labor unions, inflation and monetary economics, social security, the welfare state, and fiscal planning. In each case, he shows how a forthright telling of the truth is the only way to advance sound economics in the political world. In his view, the principled position is also the most practical position.To search for Mises Institute titles, enter a keyword and LvMI (short for Ludwig von Mises Institute)- e.g., Depression LvMI