The fatal conceit of foreign intervention

Christopher J. Coyne and Rachel L. Mathers

A chapter in What is so Austrian about Austrian Economics?, 2010, pp 225-250 from Emerald Group Publishing Limited

Abstract: The fatal conceit is the assumption that the world can be shaped according to human desires. This chapter argues that the logic of the fatal conceit can be applied to foreign interventions which go beyond the limits of what can be rationally constructed by reason alone. In suffering from the fatal conceit, these interventions are characterized by: (1) the realization that intentions do not equal results, (2) a reliance on top-down planning, (3) the view of development as a technological issue, (4) a reliance on bureaucracy over markets, and (5) the primacy of collectivism over individualism. These characteristics explain why interventions extending beyond the limits of what can be rationally constructed tend to fail.

Date: 2010
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Persistent link: https://EconPapers.repec.org/RePEc:eme:aaeczz:s1529-2134(2010)0000014014

DOI: 10.1108/S1529-2134(2010)0000014014

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