By Thoreau
It is strange to me that so many libertarians are so sympathetic to managers in large organizations. Isn’t a key insight of Hayek that planners working on large scales will lack access to the local information that is so important to the success or failure of what real people actually do?
Now, yes, corporations can face a type of market discipline that governments lack (unless, of course, the corporations know that the government will bail them out…) but all that means is that planners in the upper echelons of corporations might be less clueless than planners in the upper echelons of governments. It doesn’t mean that they actually have a great insight into what’s really happening on the ground, just that their analyses are less fictional than those of governments. Now, I do get why libertarians have a lot of sympathy for entrepreneurs and small business owners, but that sort of sympathy is (rightly!) widespread in our society, and doesn’t require adoption of a radical ideology. It just means you admire people who took a massive risk, worked their asses off, and made something of their own. Indeed, my understanding is that a non-trivial fraction of entrepreneurs did it precisely because they found it more rewarding than working for a big company. Some of them evidently preferred to sell everything they own, go deep into debt, and work 100 hour weeks just so they could work on their own terms. You gotta admire that.
I’ll never understand why adherents of an anti-authoritarian ideology are so sympathetic to high-up bosses in big, subsidized organizations.
(And yes, I work for a big, subsidized organization, but at least I’m honest about it.)