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« Armen Alchian's Contributions to Law and Economics | Main | 2016: A Year in a Life »

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Rousing post. I agree and as a young person have been applying Austrian ideas to weapons acquisition processes.

So far as I can tell, Austrians have neglected the internal administration problems such as those of defense. Apparently a meeting of the Monte Perelin broke down when participants couldn't agree whether the UK Navy should be bought or leased. Somewhat silly I suppose.

Coyne suggests that some aspects could be privatized, such as a selective missile shield, but generally, like Smith, we accept gov't provision. My interpretation is quite a bit different, but still relies on diversity, optionality, emergent order, and, perhaps most importantly, Smithian ideas of individualism and conduct in his book on Moral Sentiments.

I think contracting, public administration, and theory of the firm type ideas are in desperate need of Smithian/Austrian insights.

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