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10min chapter
Who Won the Socialist Calculation Debate (with Peter Boettke)
EconTalk
Innovation and the Uncertainty of Knowledge
This chapter examines the intersection of scientific inquiry and economic dynamics, inspired by Michael Polanyi's philosophy. It discusses how rising material costs, like tin, ignite innovation among entrepreneurs and the unpredictable nature of scientific progress, correlating it with market adaptations and the philosophy of scarcity.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode