I have been invited to give a lecture on the Austrian school of economics, public good and social justice. I have been thinking about public good and social justice for the last two years as I struggle with the issue of whether social entrepreneurship can scale. Much of the challenge comes from reconciling the role of the individual, government and free markets or capitalism.
Fortunately, I have gained much insight from the writings of Friedrich Hayek, the Nobel laureate economist and political philosopher. Hayek and Ludwig von Mises are the two intellectual giants of the Austrian school of economics. Their thoughts on the individual, government and free markets are very well explained in this article by Professor Linda C. Raeder, "The Liberalism/Conservatism Of Edmund Burke and F. A. Hayek: A Critical Comparison". Burke is an 18th century philosopher and political theorist.
If you are interested to better understand the philosophy of Joseph Schumpeter and Milton Friedman, the article will be very helpful. If you are looking for a way to understand "social" ventures in a way that is less normative or moral and more economics the article provides some insights.
A previous post on Hayek is here.
I will announce the date and place of the lecture as soon as they are fixed.
