Is the idea of a central decision maker for the economy just a problem of gathering all the right information and having the most intelligent in control? Or is there a far more fundamental problem with the entire notion?
Continuing our Bitcoin economics week, today we dive into a piece on a concept we haven’t yet covered. What is the true nature of the knowledge involved in economic activity, and how do we utilize that knowledge to solve the problem of economic organization? A brilliant work by F.A. Hayek made available by the amazing team over at FEE.org, we read and expand on Hayek’s “Use of Knowledge in Society.”
Visit the full piece, and the collection of other great work, economic analysis, news, & more over at fee.org.
Become a Supporter of the show!