{"id":23807,"date":"2017-04-30T20:16:31","date_gmt":"2017-05-01T01:16:31","guid":{"rendered":"http:\/\/olduvai.ca\/?p=23807"},"modified":"2017-04-30T20:16:31","modified_gmt":"2017-05-01T01:16:31","slug":"ludwig-von-mises-century-of-validation","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=23807","title":{"rendered":"Ludwig von Mises\u2019 Century of Validation"},"content":{"rendered":"
\n

Ludwig von Mises\u2019 Century of Validation <\/a><\/h3>\n<\/div>\n
Seeing the Light<\/strong><\/div>\n
\n

It has been said that \u201cthe definition of insanity is doing the same thing over and over again and expecting different results<\/em>.\u201d\u00a0 No one quite knows who first uttered this remark; it has been attributed to Albert Einstein, Mark Twain, Benjamin Franklin, and has even been said to be an Ancient Chinese Proverb.\u00a0 What is known is that this clich\u00e9 has been repeated over and over again so often that its mere mention substantiates its own definition.<\/p>\n

\"\"Several of the ladies and gentlemen above wanted to let us know that they\u2019re merely eccentric,\u00a0 and if they want to do things all over again and again and again, we should let them\u2026<\/p>\n

Nonetheless, we repeat it again because it\u2019s particularly fitting to today\u2019s deliberations.\u00a0 Here we begin with a look back to the past in search of edification.\u00a0 For the miscalculations of the past continue to dictate the insanity of the present.<\/p>\n

Many years ago, a bright minded and well intentioned Italian pursued a devious undertaking.\u00a0 His efforts aimed to conceive a pure theory of a socialist economy.\u00a0 His objective was to take the sordid teachings of Marx and pencil out the mechanics of how a centrally planned economy could bring a life of security and abundance for all.\u00a0 What follows is an approximation of how the dirty deed went down.<\/p>\n

In 1908, Italian economist Enrico Barone suffered an abstraction.\u00a0 One late night he skipped a bite of his meatballs and marinara, and gazed into the outer frontiers of deep space.\u00a0 Looking around, he couldn\u2019t believe his eyes. For in this far corner of absolute darkness, he saw something truly amazing.\u00a0 Out in the distant reaches of nothingness, peering into a black hole, he saw not the dark.\u00a0 Rather, he thought he saw the light.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Ludwig von Mises\u2019 Century of Validation Seeing the Light It has been said that \u201cthe definition of insanity is doing the same thing over and over again and expecting different results.\u201d\u00a0 No one quite knows who first uttered this remark; it has been attributed to Albert Einstein, Mark Twain, Benjamin Franklin, and has even been […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[5728,5730,966,11763],"class_list":["post-23807","post","type-post","status-publish","format-standard","hentry","category-economics","tag-acting-man","tag-insanity","tag-ludwig-von-mises","tag-mn-gordon"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23807","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=23807"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23807\/revisions"}],"predecessor-version":[{"id":23808,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/23807\/revisions\/23808"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=23807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=23807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=23807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}