Bonus Quotation of the Day…

by Don Boudreaux on May 31, 2022

in Hayek, Seen and Unseen

… is from page 198 of Arnold Kling’s excellent 2016 book, Specialization and Trade: A Re-introduction to Economics (footnote deleted):

It is always the case that government policymakers are going to lack important information that can be discovered only by participants in the market. Just like a would-be socialist central planner, a regulator faces an insurmountable calculation problem.

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