Category Archives: Division of Knowledge

LARRY SUMMERS ON THE SIGNIFICANCE OF HAYEK

Larry Summers: Hayek’s ideas that the price system is a consolidator of information and a distributor of knowledge, as well as simply a way of assuring efficiency and exchange, is probably as penetrating and original an idea as microeconomics produced … Continue reading

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A new Hayekian coordination puzzle

From Don Boudreaux.  Teachers in particular will want to steal Bourdreaux eye opening thought experiment.

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GMU’s Eli Dourado

blogs Hayek’s “The Use of Knowledge in Society”.

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Hayek & The Cuban Toilet Paper Shortage

There’s the famous tin story.  There’s the famous pencil story. Now — joining the pantheon of divided knowledge economics — make way for the Cuban toilet paper story.

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video: Bill Whittle Takes Burkian Social Theory and Hayek’s Division of Knowledge Argument

Where no man has gone before.   ht: Instapundit.

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book: Justin Fox’s _The Myth of the Rational Market_

English major and Marxist social critic Rob Horning reviews The Myth of the Rational Market:  A History of Risk, Reward and Delusion on Wall Street by TIME magazine’s Justin Fox: Fox’s account of the rational market revolves around the long-held … Continue reading

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