6 Billion Prices

Posted: August 11, 2011 | Author: | Filed under: Knowledge Problems, Medicare | Leave a comment »

http://healthblog.ncpa.org/6-billion-prices/

Further Support for the Hayek Hypothesis

Posted: July 1, 2011 | Author: | Filed under: Hayek, Knowledge Problems | Leave a comment »

http://ices.gmu.edu/wp-content/uploads/2011/05/Markets-as-Economizers-of-Information-Field-Experimental-Examinations-of-the-Hayek-Hypothesis-by-Al-Ubaydli-and-Boettke.pdf

Skeptics and thermostats

Posted: January 26, 2011 | Author: | Filed under: Knowledge Problems | Leave a comment »

http://aidwatchers.com/2011/01/skeptics-and-thermostats/

Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome — by Ricardo J. Caballero

Posted: October 11, 2010 | Author: | Filed under: Knowledge Problems, Macroeconomics, Methodology, Uncategorized | Leave a comment »

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Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome — by Ricardo J. Caballero

 

The Institutional Causes of China’s Great Famine, 1959-61

Posted: September 20, 2010 | Author: | Filed under: Institutions, Knowledge Problems, Socialism | Leave a comment »

http://papers.nber.org/papers/w16361#fromrss

This paper investigates the institutional causes of China’s Great Famine. It presents two empirical findings: 1) in 1959, when the famine began, food production was almost three times more than population subsistence needs; and 2) regions with higher per capita food production that year suffered higher famine mortality rates, a surprising reversal of a typically negative correlation. A simple model based on historical institutional details shows that these patterns are consistent with the policy outcomes in a centrally planned economy in which the government is unable to easily collect and respond to new information in the presence of an aggregate shock to production.

Hayekian Ants

Posted: April 6, 2010 | Author: | Filed under: Anarchy, Institutions, Knowledge Problems, Rationality, Uncategorized | Leave a comment »

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Hayekian Ants

Hayek is Still Relevant

Posted: April 5, 2010 | Author: | Filed under: Hayek, Knowledge Problems | Leave a comment »

“The United States Code — containing federal statutory law — is more than 50,000 pages long and comprises 40 volumes. The Code of Federal Regulations, which indexes administrative rules, is 161,117pages long and composes 226 volumes.

No one on Earth understands them all, and the potential interaction among all the different rules would choke a supercomputer. This means, of course, that when Congress changes the law, it not only can’t be aware of all the real-world complications it’s producing, it can’t even understand the legal and regulatory implications of what it’s doing.”

http://econlog.econlib.org/archives/2010/04/two_links_for_h_1.html

Is Stimulus Spending Good for the Economy?

Posted: March 24, 2010 | Author: | Filed under: Keynesian Economics, Knowledge Problems, Stimulus, Uncategorized | Leave a comment »

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Is Stimulus Spending Good for the Economy?

Easterly vs Wolfers on Hayek’s Influence

Posted: March 16, 2010 | Author: | Filed under: Hayek, Knowledge, Knowledge Problems, Methodology, Quotes, Spontaneous Order, Uncategorized | Leave a comment »

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Easterly vs Wolfers on Hayek’s Influence

|Peter Boettke|

Bill Easterly straightens out Justin Wolfers on Hayek’s influence and more importantly Hayek’s ideas.

Wolfers would also benefit from considering this short note by David Skarbek on Hayek’s influence on other Nobel Prize winners.

“What’s the single most important thing to learn from an economics course today? What I tried to leave my students with is the view that the invisible hand is more powerful than the [un]hidden hand. Things will happen in well-organized efforts without direction, controls, plans. That’s the consensus among economists. That’s the Hayek legacy” – Larry Summers

Daniel J. SmithSent Via Mobile Phone

Tocqueville Quote:

Posted: March 14, 2010 | Author: | Filed under: Economic Freedom, Knowledge, Knowledge Problems, Quotes | Leave a comment »

“…American victories are achieved with the plowshare, Russia’s with the soldier’s sword. To achieve their aim, the former rely upon self-interest and allow free scope to the unguided strength and and common sense of individuals.  The latter focuses the whole power of society upon a single man. The former deploy freedom as their main mode of action; the latter, slavish obedience.”

The Knowledge Problem of New Paternalism

Posted: February 19, 2010 | Author: | Filed under: Knowledge Problems, Patneralism | Leave a comment »

http://thinkmarkets.wordpress.com/2010/02/19/the-knowledge-problem-of-new-paternalism-2/

Hayek on Prices

Posted: February 7, 2010 | Author: | Filed under: Knowledge, Knowledge Problems, Morals, Prices, Profit, Quotes | Leave a comment »

“Prices and profits are all that most producers need to be able to serve more effectively the needs of men they do not know. They are a tool for searching – just as…the telescope extends the range of vision…The disdain of profit is due to ignorance.”

- F.A. Hayek, Fatal Conceit, Page 104

Do Politicians With High IQs Make Government Work?

Posted: October 8, 2009 | Author: | Filed under: Government, Knowledge Problems | Leave a comment »

http://townhall.com/columnists/ThomasSowell/2009/09/29/the_brainy_bunch

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