Mortentia t1_ixog257 wrote on November 25, 2022 at 12:58 AM

Reply to comment by Truth_is_Liberal in Amazon workers in the U.S. and 30 other countries plan Black Friday protests by AmethystOrator

I still don’t understand Friedman/Hayek worship, considering that Hayek was a relatively poor economist and only a decent liberal philosopher, and Milton Friedman died having admitted that he could not fight Keynes’s ideas anymore and that the Keynesian theory was correct no matter how much he hated to admit it.

The two had a lot of bleed into the business world and somehow only recently has the popularity of econometrics and statistics in market research allowed for proper assessment of business structure. Although, in my BCOM there has been a lot of focus on treating employees appropriately and ensuring that they receive what they deserve to incentivize continued and exceptional performance, so I’d hope that some MBAs are similar.

capitalism93 t1_ixopdej wrote on November 25, 2022 at 2:23 AM

Both Friedman and Hayek won the Nobel Prize in Economics for their outstanding contributions to the field. That is probably related to the influence they have had.

Mortentia t1_ixoq1uy wrote on November 25, 2022 at 2:29 AM

Oh yeah I’m aware of their influence and the reasons for it but Nobel Prizes don’t necessarily mean that an individual contributed enough or the right things to their field to achieve the type of cult-like following they have.