#3385
Mentioned in 9 episodes
The Use of Knowledge in Society
Book • 1945
In this seminal article, Hayek argues that the knowledge necessary for economic decision-making is dispersed among individuals and cannot be centralized.
He emphasizes that market prices play a crucial role in disseminating this knowledge, allowing individuals to make rational economic decisions without needing complete information.
Hayek critiques central planning, suggesting that it cannot match the efficiency of market mechanisms in utilizing local and specific knowledge held by various members of society.
He emphasizes that market prices play a crucial role in disseminating this knowledge, allowing individuals to make rational economic decisions without needing complete information.
Hayek critiques central planning, suggesting that it cannot match the efficiency of market mechanisms in utilizing local and specific knowledge held by various members of society.
Mentioned by
Mentioned in 9 episodes
Mentioned by Amit Bhatma as his favorite essay of the 20th century.
73 snips
Ep 400: Life Lessons That Are Priceless
Mentioned by 
Justin Murphy as a key text supporting the idea that markets are information-synthesizing intelligence machines.
Justin Murphy as a key text supporting the idea that markets are information-synthesizing intelligence machines.
13 snips
Markets Learn to Manufacture Intelligence and Politics Modernizes (Nick Land, Meltdown, Sentence 3)
Erwähnt von 
Nancy Fraser im Kontext der Diskussion über Märkte als Orte der Veridikation und Wahrheitsproduktion.
Nancy Fraser im Kontext der Diskussion über Märkte als Orte der Veridikation und Wahrheitsproduktion.
S03E29 - Nancy Fraser on Alternatives to Capitalism
Referenced by 
Robert Breedlove to highlight the distinction between central planning and decentralized planning.
Robert Breedlove to highlight the distinction between central planning and decentralized planning.
Bitcoin vs Central Planning: Nassim Taleb's "Antifragile" Part 3 w/ Mike Kelly
Mentioned in the context of Hayek's paper on the use of knowledge in society and decentralized decision-making.
Worldly Wisdom
