Parallax Views w/ J.G. Michael cover image

Burning Down the House: How Libertarian Philosophy Was Corrupted By Delusion And Greed w/ Andrew Koppelman

Parallax Views w/ J.G. Michael

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Hayek and the Modern Economy

Hayek's big insight is that a modern economy is too complex, contains too much information for any central planner to possibly decide what ought to be produced. He says the only way in which you can come up with rational answer to those questions is to allow markets to operate and to allow prices to determine production. Hayek has enduring true things to say about how a modern economy works that I think Americans on the left need to read and think about.

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