Category Archives: efficiency
HAYEK VS. HAYEK ON THE EFFICIENCY OF SPONTANEOUSLY ORDERED LAW
Michael Giberson on Buchanan vs. Stringham & Zywicki.
Posted in efficiency, Law
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Our task [as economists] 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.
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