Don Lavoie on the Continuing Relevance of the Knowledge Problem – Econlib
See full post on Econlib. It was Don Lavoie, not Friedrich Hayek, who coined the term “knowledge problem” in his seminal 1985 National Economic Planning: What Is Left? (itself a more accessible and policy-focused distillation of Lavoie’s thesis, under Israel Kirzner, entitled Rivalry and Central Planning: The Socialist Calculation Debate Reconsidered). Lavoie reformulated and clarified […]