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Lessons of the Cold War with Peter Robinson
The Genius of Thomas Sowell
The Failure of Central Planning
The failure of central planning suggests that something must have been left out of the equation. The enormous fragmentation of consequential knowledge is one of those things, he says. Prices play a crucial role in determining how much of each resource gets used where and how the resulting products get transferred to millions of people. Yet this role is seldom understood by the public, and it is often disregarded entirely by politicians.
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