Cohen on the Hayek / Knight Capital Controversy.

Hayek’s breakthrough year of 1936 was also the year of Frank Knight.  Avi Cohen’s article on the Hayek-Knight dust up includes previously unpublished correspondence between Hayek and Knight during this period.  Hayek’s take away lesson from his encounter with Knight was that logical constructs involving homogenized capital provided a barrier to understanding both the logic . . . → Read More: Cohen on the Hayek / Knight Capital Controversy.

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Whenever the government is asked to decide how much of a thing is to be produced, who is to be allowed to produce it, who is to be excluded from producing it, who is to have that privilege and this privilege .. It is against this kind of planning, exclusively, that I am arguing [in The Road to Serfdom]. — F. A. Hayek

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