"If one writing contributed more than any other to the framework in which this work [Sowell's "Knowledge and Decisions"] developed, it would be an essay entitled 'The Use of Knowledge in Society,' published in the American Economic Review of September 1945, and written by F. A. Hayek … In this plain and apparently simple essay was a deeply penetrating insight into the way societies function and malfunction, and clues as to why they are so often and so profoundly misunderstood."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Original Language: English
Available Languages (1)
Sources
Thomas Sowell, Knowledge and Decisions (1980), p. ix
https://en.wikiquote.org/wiki/Individualism_and_Economic_Order
Revision History
No revisions have been submitted for this quote.
Categories
Individualism and Economic Order
29 quotes on TrueQuotesView all quotes by Individualism and Economic Order →
Related Quotes
"We must face the fact that the preservation of individual freedom is incompatible with a full satisfaction of our vie…"
"The part of our social order which can or ought to be made a conscious product of human reason is only a small part o…"
"I am certain that there are many who regard with impatience and distrust the whole tendency, which is inherent in all…"
"The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowl…"
"This is not a dispute about whether planning is to be done or not. It is a dispute as to whether planning is to be do…"
"Hayek's adversaries — Oskar Lange and company — argued that a market system had to be inferior to a centrally-planned…"
"The shipper who earns his living from using otherwise empty or half-filled journeys of tramp-steamers, or the estate …"
"Fundamentally, in a system in which the knowledge of the relevant facts is dispersed among many people, prices can ac…"
"In abbreviated form, by a kind of symbol, only the most essential information is passed on and passed on only to thos…"
"There is all the difference in the world between treating people equally and attempting to make them equal. While the…"