Must-Read: Samuel Bowles, Alan Kirman, and Rajiv Sethi: Friedrich Hayek and the Market Algorithm: “‘[The market is] a system of the utilization of knowledge which nobody can possess as a whole… http://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.31.3.215 …which… leads people to aim at the needs of people whom they do not know, make use of facilities about which they have … Continue reading Must-Read: Samuel Bowles, Alan Kirman, and Rajiv Sethi: Friedrich Hayek and the Market Algorithm