interview: Hayek on Statistics & Macroeconomic Explanation

Below I’ve posted a conversation between Friedrich Hayek and Leo Rosen from 1978 in which Hayek presents some of his conclusions about the relationships between statistics, probability theory, and macroeconomic explanation.

Note well when reading the following that Friedrich Hayek’s first job as an economist had Hayek up to his eyeballs in the collection and . . . → Read More: interview: Hayek on Statistics & Macroeconomic Explanation

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The tendency of interpreting the results of spontaneous processes as being directed by some one ‘will’, or being producible by design, is deeply engrained in the structure of primitive human thinking. — F. A. Hayek

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