Brad DeLong Goes the Full Hayekian

In order to explain today’s economic troubles, uber-Keynesian Brad DeLong resorts to Don Boudreaux’s Hayek-inspired metaphor of puzzle piece coordination.

UPDATE:  Much more on DeLong and macro-economic coordination from Steve Horwitz.  Highly recommended.

Housing bust stalls labor “recalculation”

Someone send an email to Arnold Kling about this.

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Random Quote

Man has certainly .. often learnt to do the right thing without comprehending why it was the right thing, and he is still often served better by custom than by understanding. — F. A. Hayek

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