Jordan Peterson explains Hayek’s “knowledge problem” argument“The proposition that central planning will work is the proposition that you can substitute one expert mind for a million distributed expert minds.”“That’s obviously not the case, because each person is going to have knowledge that pertains to their locality that isn’t accessible to everyone. So it’s much better to let everyone make the decisions and sum them.”
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Friedrich August Von Hayek - towering economist, political philosopher and one of the greatest intellectual figures of the twentieth century. From his #NobelPrize and Presidential Medal of Freedom, to his typewriter and personal annotated version of Adam Smith’s The Wealth of Nation, our online sale, open now, offers an unprecedented look at the life of an extraordinary genius. #SothebysBooks | Sotheby's
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