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The Importance of Prices
Hayek says that embedded knowledge works in different aspects of life and markets. The end consumer just knows what a blow of bread costs, but the factors that went into determining that price have everything to do with the price of oil," he writes. Hayek: There's an interesting theological tension for some people on the right who sometimes get a little over there's a head of their skis on thinking that they know what God's law is,.