Wednesday, April 15, 2015

F.A. Hayek on Knowledge

"The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design." -- F. A. Hayek
The Fatal Conceit: The Errors of Socialism
University of Chicago Press

What Hayek was referring to is the false assumption that someone like Hillary Clinton can know all there is to know about health care and other large organizations in society.  Hillary gives the pretense of knowing things that she clearly does not know, all in the hopes of getting the votes of low-information voters.  

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