The Knowledge Problem: Why No One Can Plan an Economy

Chris Cargill of Mountain States Policy Center draws on Friedrich Hayek's 1945 essay to argue that the information required to run an economy is scattered among millions of people and changes constantly, making central planning structurally impossible regardless of the planners' intelligence or intentions. https://clarkcountytoday.com/opinion/opinion-fatal-flaws-of-socialism-the-knowledge-problem/ #Opinion #Socialism #FreeMarket #Economics #KnowledgeProblem #Hayek #CentralPlanning #MountainStatesPolicyCenter #WashingtonState #ClarkCounty