"Socialism assumes that all the available knowledge can be used by a single central authority. It overlooks that the model society which I now prefer to call the extended order which exceeds the perception of any individual mind is based on the utilization of widely dispersed knowledge, and once you are aware that we can achieve that great utilization of available resources only because we utilize the knowledge of millions of men, it becomes clear that the assumption of socialism is that a central authority in command of all this knowledge is just not correct!"