The Libertarians Have Lost The Thread
The Gist
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Hayek's Invention of the Price System
Hayek thought there had been a debate in the late 1800s within Austria and Germany about central economic planning. He argued that there's way too much information in an economy for any central planner to know it. Hayek gave birth to this way of thinking like Edmund Burke or John Stuart Mill, but those guys weren't around to say past judgment on how their way of thinking was interpreted by the US Founding Fathers or by Bush administration.
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