audio: Richard Epstein on the Rule of Law

Russ Roberts has a conversation with U. of Chicago Law professor Richard Epstein.  One of the brightest men in the country explains one of the most important problems in political economy.  Epstein takes on Barack Obama’s use of arbitary power between 44:30 and 46:30 in the audio.  Good stuff.

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[Socialists suffer from] the synoptic delusion .. the fiction that all the relevant facts are known to some one mind, and that it is possible to construct from this knowledge of the particulars a desirable social order. — F. A. Hayek

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