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How Markets Use Knowledge

Posted By Russ Roberts On September 20, 2011 @ 4:23 pm In Complexity & Emergence | Comments Disabled

If you are teaching Microeconomics or Principles this semester, please feel free to share this visual essay of mine [1] with your students. It is my attempt to convey the lesson of Hayek’s Use of Knowledge in Society [2] using supply and demand.

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URL to article: http://cafehayek.com/2011/09/how-markets-use-knowledge.html

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[1] share this visual essay of mine: http://www.invisibleheart.com/HowMarketsUseKnowledge.pdf

[2] Use of Knowledge in Society: http://www.econlib.org/library/Essays/hykKnw1.html

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