New crisis and old debates: The resurgence of the difficulties of the planned economy under COVID-19
Gentier, Antoine
New crisis and old debates: The resurgence of the difficulties of the planned economy under COVID-19 - 2021.
80
The Austrian school of economics and public choice theory are used to analyze the erratic administrative decision-making process during the COVID-19 crisis. Lockdown policies have added a new chapter to the economic planning debate. This paper focuses on the level of decision-making (centralization/decentralization) and on the necessary involvement of actors in the process. We use an Hayekian perspective on knowledge dissemination to explain that human interactions are essential to the functioning of societies. The partial return to autarky brought about by these measures clashes with the core organization of open societies, sparking worrying economic consequences without any proven positive effect on public health.
New crisis and old debates: The resurgence of the difficulties of the planned economy under COVID-19 - 2021.
80
The Austrian school of economics and public choice theory are used to analyze the erratic administrative decision-making process during the COVID-19 crisis. Lockdown policies have added a new chapter to the economic planning debate. This paper focuses on the level of decision-making (centralization/decentralization) and on the necessary involvement of actors in the process. We use an Hayekian perspective on knowledge dissemination to explain that human interactions are essential to the functioning of societies. The partial return to autarky brought about by these measures clashes with the core organization of open societies, sparking worrying economic consequences without any proven positive effect on public health.
Réseaux sociaux