The Importance of Localized Knowledge in the Economy

markets allow societies to have a de centralized approach to the way the economy evolves, based on the choices of consumers and suppliers. For hyk, just as words derive a new meaningo ously, we don't need a centralized body planning language for the economy either. Both are self ordering systems. The knowledge we need if we want anything to work is fragmented across all individuals. And this is probably how important the concept of freedom is to him.