Monday, September 29, 2008

Human [In] Action

Human Action is Ludwig von Mises's magnum opus which at its briefest can be summarized as the following:
  1. An uneasiness or state of dissatisfaction with the status quo
  2. A mental image of a more satisfactory state
  3. The expectation that action will bring about a more satisfactory state
All three must be present for action to occur.

"The incentive that impels a man to act is always some uneasiness." Mises p. 13

Well there sure is plenty of uneasiness to go around these days, but sometimes the right action is inaction. So maybe the peeps in government can imagine a more satisfactory state of affairs, but how certain are they that their collective action will bring about a more satisfactory result? What's the government track record on bailouts? Unfortunately, it's not so clear cut. The failures are hidden in indirect and unintended consequences. It makes me sick to my stomach that they would feel comfortable taking such a huge gamble on our country's future.

On a related note, enjoy this human interest piece on how uneasy/depressing the current Wall Street situation is and how everyday Joe Schmoes are coping.

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