VIDEO: Amar Bhide on Human Judgment vs Mathematical Economics

Audio — Amar Bhide at the L.S.E., Oct. 12, 2010

Amar Bhide’s L.S.E. lecture, “A Call for Judgment: Sensible Finance for a Dynamic Economy” (mp3). Information on the lecture here.

Highly recommended. The lecture includes a terrific discussion of Hayek and innovation.

Key quote:

“How is this thing [innovation] organized? .. [one among the four ways is judgment] .. it’s fundamentally judgment, it isn’t a . . . → Read More: Audio — Amar Bhide at the L.S.E., Oct. 12, 2010

Amar Bhide on Hayek, Innovation & Entrepreneurial Judgment

In The Harvard Business Review. Highly recommended.

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Random Quote

I believe our task is to show how only a market and a competition determined price system can enable us from day to day to adjust a worldwide division of labor to ever changing circumstances and to maintain that degree of productivity which we need in order to keep the population of the world alive and continue the growth we have made possible by adopting this system. — F. A. Hayek

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