Welcome to the second installment in our series of discussions of the Most Insightful Articles in economics. This post is going up a little later than I had planned, but hopefully you have stuck around. Today we are discussing Friedrich Hayek’s 1945 article The Use of Knowledge in Society. Whereas Coase invites us to consider [...]

Tags: Arrow, Difficulty in the Concept of Social Welfare, economics, Hayek, local knowledge, Most Insightful Articles, price system, Use of Knowledge in Society
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