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44: Europe, 1962–1992 (1)

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Hayek: A Collaborative Biography

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Abstract

Policy-promoted achieved status undermines ascribed status. British neoclassicism revolves around full-cost pricing—taxing externalities and subsidizing education; whereas Austrian neoclassicism maintains that ‘a policy of compulsory education is incompatible with efforts to establish lasting peace. … Public funds must not be used for such purposes.’ Raico, one of Hayek’s PhD students, justified Mises’ promotion of political Fascism by invoking Pareto’s sentiments about the ‘heroism of the fascists.’ Pantaleoni, the neoclassical ‘Marshall of Italy,’ who was engaged in ‘intense work in support of fascism’ and ran a ‘vigorous anti-Semitic campaign,’ was ‘enraged’ by ‘the demagoguery of taxation’ organized by the ‘parasitic groups for the speedier spoliation’ of producers. Taxation will, Pantaleoni asserted, become the ‘means of procuring bread and circuses for the people’—‘lower-class plunder.’

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  1. Department of Economics, Stanford University Department of Economics, Stanford, California, USA

    Robert Leeson

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Leeson, R. (2017). 44: Europe, 1962–1992 (1). In: Hayek: A Collaborative Biography. Archival Insights into the Evolution of Economics. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-52054-4_11

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  • DOI: https://doi.org/10.1007/978-3-319-52054-4_11

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