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The forefathers of libertarian thought, Ludwig von Mises and Friedrich Hayek, wrote illuminating defenses of markets in their war of words against socialism and state planning in the early 20th century. At the center of their analysis was the spontaneous economic order created by the separate actions of individuals as they make choices in the marketplace. They argued that the ordinary knowledge of regular citizens could be pooled in the market and lead to a better result than any central decrees based on expert knowledge. von Mises and Hayek were not the first to articulate this idea, but they certainly surpassed their predecessors in both clarity and depth.

Orthodox libertarianism has fought a losing battle in most developed countries for a long time now, for good reasons. Even though markets are accepted as necessary mechanisms in modern society, few people consider them sufficient in themselves. The state must intervene to keep preserve equality and to keep the market from “failing”. Most discussions of market failure and state intervention seem to be based on a shallow understanding  of the dichotomy between ordinary knowledge and expert knowledge. Market failure results when ordinary knowledge is misinformed. State intervention is justified if its experts are better informed.

However, the importance and value of ordinary knowledge does not nowadays seem to get much attention beyond questions of market regulation. In this essay I will discuss ordinary knowledge from a few different perspectives and try to sort out a few preliminary ideas about its applicability in political decision-making. Continue reading →

Philosophical descriptions of knowledge rarely contribute to the development of new knowledge. Scientists normally do research without analyzing the presuppositions and methodologies of scientific research. Each branch has an implicit understanding of valid methods and arguments, which is taught to students and redefined bit by bit each time a paper passes peer review. Such interactions are prescriptive even though prescriptions aren’t written down as an explicit set of rules.

Philosophical analyses of scientific knowledge, on the other hand, are descriptive but not prescriptive. They usually describe the presuppositions and methods of scientific inquiry. The philosophical interest lies in following the roots of rational knowledge as deep down as possible. Philosophy comes closest to prescription in questions of demarcation when science is to be separated from non-scientific (or pseudo-scientific) forms of inquiry. A philosophical analysis can be good for proscribing such forms.

Much the same considerations apply to political knowledge and its philosophical description. A philosophical analysis of political knowledge is descriptive, not prescriptive. I can philosophize about the forms of knowledge various political actors possess, but my theories will give no advice or guidance for practicing politicians on how they can improve their political knowledge. And if we want to distinguish between political and non-political forms of knowledge, we immediately ascend (or descend, if you prefer) to the level of philosophy. Only by philosophical analysis can we hope the demarcate political knowledge from related forms of knowledge such as social science and public opinion.

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