• 00:01    |    
    Initial credits
  • 00:06    |    
  • 00:52    |    
    Quote, The Fatal Conceit: The Errors of Socialism, Friedrich A. Hayek
  • What is the fatal conceit?
  • 04:24    |    
    Parallels between socialism and foreign interventions
    • Parallel # 1: Intentions and results
    • Parallel # 2: Reliance on top-down planning
    • Parallel # 3: Progress as a technological issue
    • Parallel # 4: Reliance on bureaucracy over markets
    • Parallel # 5: The primacy of collectivism over individualism
  • 20:17    |    
    Unconstrained vision of foreign intervention
    • The knowledge of constraints
    • Development programs well intended
  • 25:12    |    
    The effects of foreign intervention
    • Lake Turkana example
    • Helmand Valley example
      • Foster development program in Afghanistan
      • Perverse incentives effects
  • 35:17    |    
    Quote, Louis Dupree
  • 35:46    |    
    Quote, Nick Cullather
  • 36:10    |    
    United States' intervention in Afghanistan
  • 38:45    |    
    The designed orders
  • The rules of the game
  • 42:16    |    
    Implications of foreign intervention
  • Quote, James M. Buchanan
  • 45:21    |    
  • 46:13    |    
    Question and answer period
    • Would it be possible for economists or experts to give advice to governments seeking for solutions that will actually avoid making these kind ofn mistakes? What message would it be? What is the recommendation to economists and experts?
    • Do the implementation of trade laws and regulations go against the idea of free market?
  • 01:04:12    |    
    Final credits

The Fatal Conceit of Foreign Intervention

New Media  | 08 de junio de 2011  | Vistas: 66

Christopher Coyne points out why economics is crucial to foreign intervention. Many experts perceive the problems in the social order and their vision is a preferable state of affairs to solve them; however, the solution presented turns out to be worse than the actual problem. Coyne highlights the power of economics because it focuses on constraints and incentives. Coyne argues that the fatal conceit can be applied to foreign interventions that can go beyond the limits of what can be rationally constructed through human reason, stating that the ignorance in human limits turn to be the fatal conceit.


Christopher Coyne is the F.A. Harper Professor of Economics at the…


Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín