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?

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Our predictive capacity of the specific things which the economic system will do at a particular date is limited in exactly the same fashion in which our biological knowledge is largely limited if our task were to predict what a living organism will do at a particular date. — F. A. Hayek

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