
"We Don't Need Central Banks" w/ Richard Werner (WiM581)
The "What is Money?" Show
00:00
Decentralization vs. Central Planning: Embracing Local Knowledge
This chapter examines the shortcomings of central planning as critiqued by Hayek and underscores the value of local knowledge. It also explores the transition of institutions towards free market principles, highlighting the benefits of decentralized strategies in improving economic outcomes.
Transcript
Play full episode