Philosophy of Economics

Grow Up and Quit Socialism: The Path to Science

Does studying economics transform young economists into advocates of liberalism? From Nobel Prize winners in Economics to your own teachers, many influential economists have shifted from socialist perspectives in their youth to embrace liberal ideas.

“There are no possible rules of a just distribution in a system where the distribution is not deliberately the result of people bringing it about. Justice is an attribute of individual action. I can be just or unjust towards my fellow men; but the conception of social justice to expect from an impersonal process, which
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The Master of Them All: Luck

While “luck” is probably one of the most underrated words in the market, concepts like “hardworking”, “talented” or “persevering” seem to be perceived as variables that explain most of the variation in one’s success. Putting it differently, had you had to regress success on a number of factors, luck would probably not be one of
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