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Perspectives on Peace — State Power and the Regime Uncertainty of Robert Higgs

Hayek Program Podcast

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Understanding Regime Uncertainty and Its Impact

This chapter explores Robert Higgs's theories on regime uncertainty and its significant role in prolonging the Great Depression. It contrasts the perspectives of the Chicago and Austrian schools of thought regarding uncertainty, emphasizing how government interventions can stifle economic growth while market uncertainties can drive innovation. The discussion highlights the different manifestations of market and regime uncertainty, focusing on their implications for property rights and economic dynamics.

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