Cartas abiertas a dos amigos, un economista austriaco y uno socialista (Two Open Letters to Friends, an Austrian Economist and a Socialist)

Revista de Economía Institucional, Vol. 21, N.° 40, 2019

32 Pages Posted: 5 Feb 2019

Date Written: December 3, 2018

Abstract

Spanish Abstract: Dirijo estas cartas dos amigos imaginarios. En la primera, a un libertario de libre mercado, reconozco las fortalezas de su posición, pero argumento que la posición libertaria básica se debe actualizar a la luz de los desarrollos del mundo financiero y corporativo, y de la creciente desigualdad en la distribución de la riqueza. Dirijo la segunda carta a un socialista, que aún desea maximizar la propiedad pública y minimizar los mercados. Argumento que esta posición ha recibido golpes fatales en el siglo XX, provenientes de la crítica teórica y de catástrofes prácticas. El socialismo–al menos en su sentido clásico– ha muerto como doctrina práctica y humana. No así el Estado de bienestar, quizás con un sector público significativo. El debate se refiere a la dirección que nos gustaría que tomara el capitalismo.

English Abstract: I address these letters two imaginary friends. In the first, to a free-market libertarian, I recognize the strengths in her position but argue that the basic libertarian stance needs to be updated in the light of developments in the financial and corporate world, and of growing inequalities in the distributions of wealth. The second letter is to a socialist, who still wishes to maximize public ownership and minimize markets. I argue that this position has received fatal blows in the twentieth century, from theoretical critiques and from practical catastrophes. Socialism – at least in its classic sense – is dead as a practical and humane doctrine. The welfare state, perhaps also with a significant public sector, is not. The real debate concerns what direction we would wish to take capitalism.

Note: Downloadable document is in Spanish.

Keywords: Austrian Economy, Free Market, Hayek, Von Mises, Capitalism, Socialism, Welfare State

JEL Classification: A12, B13, B14, B24, B25, H11, H82

Suggested Citation

Hodgson, Geoffrey M., Cartas abiertas a dos amigos, un economista austriaco y uno socialista (Two Open Letters to Friends, an Austrian Economist and a Socialist) (December 3, 2018). Revista de Economía Institucional, Vol. 21, N.° 40, 2019, Available at SSRN: https://ssrn.com/abstract=3320760

Geoffrey M. Hodgson (Contact Author)

Loughborough University London ( email )

Institute for International Management
Stratford, London, E20 3BS
United Kingdom

HOME PAGE: http://www.geoffreymhodgson.uk

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