Category Archives: Uncertainty
edmund phelps: The Elite Don’t Understand How Capitalism Works
Nobel Prize winner Edmond Phelps channels Friedrich Hayek and re-introduces Frank Knight in a brutal take-down of a failed generation botching up the works because they are fatally ignorant of how a capitalist economy actually works. What Phelps is too … Continue reading
Posted in Division of Knowledge, Economics, Frank Knight, Uncertainty
5 Comments