Quotation of the Day…

by Don Boudreaux on August 25, 2022

in Complexity & Emergence, Data, Hayek

… is from F.A. Hayek’s interview, circa 1978, with my now-retired GMU Econ colleague Jack High (who was then, I believe, in graduate school at UCLA); the quotation here begins at the 32:58 mark:

All these things I’ve stressed – the complexity of the phenomena in general, the unknown character of the data, and so on – really much more point out limits to our possible knowledge than [they are] contributions that make specific predictions possible.

DBx: Would that such an appreciation of society’s enormous complexity – and the resulting intellectual humility that such an appreciation instills – be today more widespread.

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