Markets and Nuances

In the annual Hayek Lecture last October, Professor Emeritus Robert Ellickson of Yale Law School articulated a complex view of typical classical liberalism, offering a limited defense of taxes and regulation by “praising nineteenth-century New York, insulting twentieth-century New York, and challenging anarcho-capitalists,” advocates of an unfettered free market. Ellickson, while opposed to rent control and zoning ordinances, allowed that markets alone cannot always produce widely beneficial public works such as the Brooklyn Bridge or an orderly street grid.

Watch the full video of the event (1 hr, 28 min):

Posted September 1, 2017