The rebirth of industrial policy
Explain It to Me
00:00
Is There Something Compelling About Markets?
The economy is incredibly complex. You need a lot of knowledge about it to be able to manage it intelligently. Hayek's argument was that markets can spread information faster than governments often can. The problem with the markets we have seen created over the last 30 odd years is that number one, that information is highly imperfect and so markets become very sclerotic.
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