Distributed Knowledge & The Medical Economy
Jennifer Rubin discovers both Hayek’s knowledge problem and Hayek’s distributed knowledge and discovery procedure solution. Did she read John Stossel or The Constitution of Liberty?
July 27, 2009 | Posted by Greg Ransom Jennifer Rubin discovers both Hayek’s knowledge problem and Hayek’s distributed knowledge and discovery procedure solution. Did she read John Stossel or The Constitution of Liberty?
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[What was the most important theoretical breakthrough in economic science?] Of course, Adam Smith brought about a breakthrough. It is impossible to exaggerate his importance. Also, in the 20th century, the theories of John Maynard Keynes and Friedrich Hayek.
— Edmund Phelps
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What do you think the odds are that Rubin will apply these concepts to nation building?