Update 03_p02_ch14_3.md

Partial translation of this file EN-YO (1006 Words)

yo/Economics and Ethics of Private Property Studies in Political Economy and Philosophy/03_p02_ch14_3.md

@@ -1,24 +1,24 @@
-### The Austrian School of Economics and the Prospects of a Rationalist Reconstruction of Ethics and Economics
+### Ile iwe Austian ti Ekonomiksi ati afojusona eni to n mogbinwa, atunko asa ati ekonomiksi
 
-The fact that positivism was quickly refuted as a self-contradictory philosophical system naturally did not *help* its cause. However, due to the self-serving nature of the positivist doctrine for those in positions of governmental power it also did little to reduce positivism’s popularity. Much more was needed to defeat positivism than to prove it logically false: It took decades of social experimentation, of trying on an ever-increasing scale to prove world-wide and within each nation state that there are no ethical and economic laws, that nothing is taboo, and that everything is possible. It took the economic stagnation of the Western welfare democracies beginning in the late 60’s and early 70’s; the enduring impoverishment of the Third World nations decades after their decolonization; and the gradual, and since the late 80’s—after more than 70 years of experimenting—the breathtakingly rapid economic collapse of the socialist East Bloc countries.[^24] Outside of the real world, in academia, that is, it took the temporary disappearance of ethics and political theory, and their substitution by linguistic analysis, operationally meaningless moonshine talk, or interest group politics and bargaining theories.[^25] It required the degeneration of economics into either empirically meaningless symbolic exercises, with no resemblance whatsoever to what had once been the subject matter of the classics of economic thought (except for some occasional, economically sounding term[^26] produced by, at best, second-rate mathematicians for no actual audience at all, but only to collect dust in the tax-supported libraries of this world); or it required its degeneration into a mighty econometric forecasting industry, whose futility was painfully obvious to everyone, including the politicians and government bureaucrats who subsidized it so as to employ it for purposes of “scientific legitimation”.[^27] It required the default of the Keynesian system, with the advent of the allegedly impossible phenomenon of stagflation in the mid-70’s; the breakdown of the monetarist paradigm, after a long series of patently false predictions from the late 70’s on through the 80’s; and the complete, worldwide bankruptcy of Marxist economics.[^28]
+Wipe ada positivisimu pada ni kiakia gegebi oye to tako ara re o gbawa lowo idi re. sibesibe,nitori iwa awon positisti fun awon to lagbara ni ijoba o si se die ninu didikun gbajumo positivisti. Oun pupo ni a nilo lati segun positivisti ju lati she imule wipe iro ni ero logiki. Ogba wa ni ogbon odun idanwo awujo, iyanju lati fikun awon idi lagbaye ati ninu ilo kookan wipe kosii ofin asa tabi lona economiki,wipe ko si oun to je tabu,ati wipe nkan l;e je shishe. Ogba idurosojukan ilu ti owa ni iwo orun ti o bere ni ipari 60’s ati ibere 70’s; itesiwaju ilu keta leyin decolonisason; ati lilodeedee, ati lati ipare 80’s- ati aadorin odun idanwo- ati ilu didaru awon ilu awujo ti o wa ni ilaorun[^24]. Nita aye yii, ni academia, mo n sope ogba, ifarasin ti kop e pupo ti asa ati ti oye iselu, ati yiyo funrawon ti itupale linguistic, ainitunmo oro osupa yiyo, tabi ikojopo oselu ti a sin soro nipa oye. Ogba yiyosile ekonomiksi sinu boya idaraya ti o nitumpo, ti o jora bakan losi oun ti a ti je oun ti a ti ro pupo seyin(ayafii awon isele kookan, oro ilu[^26] shishe la towo, ni dara ju, onisoro to gbe ipo keji ti o ni olugbo rara, sugbon lati gba eruku ni awon ibi ikawe ti o satileyin taxi ni aye yii) tabi onilo idapada re sibvi shishe ti a tin so asotele, nibi ti fitility ti fihan si gbogbo ti o sin dun wa, ati awon oselu ati awon eyan ijoba ti o pa ina re lati idi “legitima sori ona sciencii”. Ogba defaulti systemu Keynesian, pelu oye ti o sheeshee ti stagflationi ni aarin 70’s, pipa riri nipa monetaristi, leyin asotele topo lati ipari 70’s losi 80’s, ati gbogbo, ailowo agbaye ti ekonomiksi marxisti.[^28]
 
-[^24]: For an interpretation of the twentieth century as the apogee of the philosophy of social engineering and relativism see Paul Johnson’s magnificent *Modern Times* (New York: Harper and Row, 1983).
+fun itumo centurie ogun gege bi oye engineering awujo ati imogbonwa, wo Paul Johnson’s magnificent *Modern Times* (New Yorki: Harper and Row, 1983).
 
-[^25]: See also Veatch, *Rational Man*; idem, *For an Ontology of Morals: A Critique of Contemporary Ethical Theory* (Evanston, Ill.: Northwestern University Press, 1971); idem, *Human Rights: Facts or Fancy?* (Baton Rouge: Louisiana State University Press, 1985).
+[^25]: Wo Veatch, *Rational Man*; idem, *fun Ontology of Morals: A Critique of Contemporary Ethical Theory* (Evanston, Ill.: Northwestern University Press, 1971); idem, *Human Rights: Facts or Fancy?* (Baton Rouge: Louisiana State University Press, 1985).
 
-[^26]: For example, Gary North suggests one
+[^26]: Fun apere, Gary North she abamo wipe
 
-::::> take a look at any page by the 1983 economics [Nobel] prize winner, Gerald Debreu, *Theory of Value: An Axiomatic Analysis of Economic Equilibrium*, which was in its eighth printing in 1979—a testimony to the honors of graduate study in economics. The only hint of reality in the entire book appears on p. 29, the words, “No. 2 Red Winter Wheat”. (Gary North, “Why Murray Rothbard Will Never Win the Nobel Prize!”, in Walter Block and Llewellyn H. Rockwell, Jr., eds., *Man, Economy, and Liberty, Essays in Honor of Murray N. Rothbard* [Auburn, Ala.: Ludwig von Mises Institute, 1988], pp. 89–90)
+::::> Wo iwe Kankan ninu 1983 ekonomiksi[nobel] olugba, Gerald Debreu, *Theory of Value: An Axiomatic Analysis of Economic Equilibrium*, ti o si je ikejo tite ni 1979, ikawegboye kika ekonomiksi, itoni iriri ninu gbogbo iwe naa wani oju iwe 29, oro “ikeji Red Winter Wheat.” (Gary North, “Why Murray Rothbard ………….gba ohun eye nobeli,” in Walter Block and Llewellyn H. Rockwell, Jr., eds., *Man, Economy, and Liberty, Essays in Honor of Murray N. Rothbard* [Auburn, Ala.: Ludwig von Mises Institute, 1988], pp. 89–90)
 
-[^27]: On the degeneration of the social sciences in particular see the brilliant observations by Stanislav Andreski, *Social Science as Sorcery* (New York: St. Martin’s Press, 1972); Charles Sykes, *ProfScam: Professors and the Demise of Higher Education* (Washington, D.C.: Regnery, 1988).
+[^27]: ninu liloseyin sciencii awujo, wo awon iriri ti Stanislav Andreski, *Social Science as Sorcery* (New York: St. Martin’s Press, 1972); Charles Sykes, *ProfScam: Professors and the Demise of Higher Education* (Washington, D.C.: Regnery, 1988).
 
-[^28]: See also Murray N. Rothbard, *For a New Liberty* (New York: Macmillan, 1978), chap. 9; idem, “The Hermeneutical Invasion of Philosophy and Economics”, *Review of Austrian Economics* 3 (1989): 54–55; idem, “Is There Life After Reaganomics”, in Llewellyn H. Rockwell, Jr., ed., *The Free Market Reader* (Auburn, Ala.: Ludwig von Mises Institute, 1988), esp. p. 378; idem, “Ronald Reagan; An Autopsy”, *Liberty* II, no. 4 (March 1989).
+[^28]: See also Murray N. Rothbard, *For a New Liberty* (New York: Macmillan, 1978), chap. 9; idem, “The Hermeneutical Invasion of Philosophy and Economics,” *Review of Austrian Economics* 3 (1989): 54–55; idem, “Is There Life After Reaganomics,” in Llewellyn H. Rockwell, Jr., ed., *The Free Market Reader* (Auburn, Ala.: Ludwig von Mises Institute, 1988), esp. p. 378; idem, “Ronald Reagan; An Autopsy,” *Liberty* II, no. 4 (March 1989).
 
-Still positivism is not dead. However, since the mid-70’s the price of decades of social relativism and engineering has become too high to be ignored or simply explained away. Gradually, a philosophical crisis situation has emerged. Not surprisingly, with positivism finally losing ground other varieties of relativism, which had been submerged during the positivist reign, have resurfaced and are trying to fill the widening ideological vacuum. Associated with names such as hermeneutics, rhetoric, ultra-subjectivism, and deconstructionism, an academic movement of sorts is underway that is trying to revive the old message of nihilism—that there is no such thing as truth—and which ascribes the failure of positivism not to its relativism, but to the fact that it is not relativistic enough in continuing to allow for *empirical* (hypothetical) truths rather than for no truths at all.[^29]
+Positivistimu o ti ku. Sibesibe, lati aarin 70’s, iye igba relativisimu awujo ati engineerin ti gaju lati foju fo tala kama menuba rara diedie, wahala oye tayo, ko ba wa lojiji, pelu positivisimu ton solere nu, pelu awon oun oye miiran, ti osi ti di igba positivisti, ti tayo pada ti o si ni gbiyanju lati di iho ti ti wa. Lilo pelu awon oruko hermeneuticsi, ultra subjectivisimu, ati deconstructionisimu, isipopada akademiki wa bayii ti oshin gbiyanju lati tan imole pada si ise nihilisimu- wipe ko si oun ti o n je otito- ti oshi fi aishasheyori positivisimu han yato si imogbonwa, sugbon si idi wipe ko wa relativistiki to ninu lilo ati gba otito(hyperthetikali)empirikalli dipo ko si ooto rara.[^29]
 
-[^29]: For a critical evaluation of the new nihilism see Henry Veatch, “Deconstruction in Philosophy: Has Rorty Made It the Denouement of Contemporary Analytical Philosophy?”, *Review of Metaphysics* 39 (1985); Jonathan Barnes, “A Kind of Integrity”, *London Review of Books* (November 6, 1986); Rothbard, “The Hermeneutical Invasion of Philosophy and Economics”; Hoppe, “In Defense of Extreme Rationalism”.
+[^29]: fun wiwo daradara ti nihilisimu tuntun, ewo, “Deconstruction in Philosophy: Has Rorty Made It the Denouement of Contemporary Analytical Philosophy?,” *Review of Metaphysics* 39 (1985); Jonathan Barnes, “A Kind of Integrity,” *London Review of Books* (November 6, 1986); Rothbard, “The Hermeneutical Invasion of Philosophy and Economics”; Hoppe, “In Defense of Extreme Rationalism.”
 
-But the crisis has also brought back the philosophy of social rationalism that has long since demonstrated the falsity of positivism but fell into oblivion during the decades of positivist supremacy. Sparked by the Nobel-prize award in 1974 to Friedrich August von Hayek, the arch-rationalist Austrian School of economics, in the tradition of Carl Menger, Eugen von Böhm-Bawerk and, above all, Ludwig von Mises, Hayek’s teacher, and Murray N. Rothbard, has experienced a resounding revival. Removed for decades from the higher reaches of subsidized academia because of its unpalatable implications for those in power and relegated to an unobtrusive existence in the underworld of non-University, real-world intellectuals, the Austrian School has steadily gained momentum and grown into a genuine mass movement, with an increasing number of academic bastions as well as a continuously swelling grass roots support. In fact, spearheaded by the Ludwig von Mises Institute, founded in the mid-80’s, the movement has taken on an international dimension with a rapidly spreading Mises-renaissance among intellectual circles in the countries of Eastern Europe. Faced with the total collapse of socialism and the exhaustion of all governmental authority and legitimacy, and confronted with the task of the immediate and radical reconstruction of their countries, the advice that empirically meaningless mathematical economics, or econometrics, can give or that can be derived from Keynesianism, Monetarism, Rational Expectationism or, worse still, Hermeneuticism, can only appear to them as ridiculously inappropriate. In their emergency situation, only the Austrian School offers an unambiguous, radical, and constructive answer: Not only do truths exist in the social sciences, but there exist a priori, nonhypothetical truths which no one is capable of undoing. The truth is as simple as fundamental: that private property and private property rights is an indisputably valid, absolute principle of ethics and the basis for continuous “optimal” economic progress; and that in order to arise from the ruins of socialism, nothing will suffice but an uncompromising privatization of each and all property and the return to a contractual society based on the recognition of the absoluteness of private property rights.[^30]
+Sugbon wahala yi ti dapada oye rationalisimu awujo ti o ti fi han asise positivistimu, sugbon o jabo sinu idaru nigba ri aye awon positivisti. Pelu eye nobeli ni 1974 losi…………Rothbard, ti ni iriri isoji. Yiyo fun igba pupo, lati ibi eko oko toriwipe aimo awon to wa lagbara, o si pada si wiwa abe aye aise ile iwe giga, opolo awon eniyan ile aye, ile iwe Austrian ti gbajumo, o si ti dapasi iyipada, pelu lilosoke awon ton tele, pelu atileyin puposi. Ni pato, pelu olori ile iwe Ludwingvon Mises, ti a ri ni aarin 80’s, iyipada yi ti lo kakakiri aye ti Mises-renaissance shi n tayo ni iwo orun europu. Faced with the total collapse of socialism and the exhaustion of all governmental authority and legitimacy, and confronted with the task of the immediate and radical reconstruction of their countries, the advice that empirically meaningless mathematical economics, or econometrics, can give or that can be derived from Keynesianism, Monetarism, Rational Expectationism or, worse still, Hermeneuticism, can only appear to them as ridiculously inappropriate. In their emergency situation, only the Austrian School offers an unambiguous, radical, and constructive answer: Not only do truths exist in the social sciences, but there exist a priori, nonhypothetical truths which no one is capable of undoing. The truth is as simple as fundamental: that private property and private property rights is an indisputably valid, absolute principle of ethics and the basis for continuous “optimal” economic progress; and that in order to arise from the ruins of socialism, nothing will suffice but an uncompromising privatization of each and all property and the return to a contractual society based on the recognition of the absoluteness of private property rights.[^30]
 
 [^30]: For a critical assessment of the revolution in Eastern Europe see Hans-Hermann Hoppe, “The Collapse of Socialism and the Future of Eastern Europe”, *Kwasny Economics* II, no. 6 (October 30, 1989); idem, *Desocialization in a United Germany* (Auburn, Ala.: Ludwig von Mises Institute, 1991).