Calculation and Knowledge

While F.A. Hayek's famous 1945 essay effectively critiques the "perfect information" hypothesis, it is an inadequate explanation of the issue of economic calculation.

Shoddy service, regular breakdowns, and overbudget to boot. There is a reason why government-funded projects always waste resources.

Shoddy service, regular breakdowns, and overbudget to boot. There is a reason why government-funded projects always waste resources.

Jonathan Newman joins Bob to critique a recent Twitter argument where some were claiming that supercomputers solved the socialist calculation problem.

Most socialists are not misguided about how to have a prosperous economy, for that is not their goal.

Politicians promise economic miracles, but in the end they waste resources and engage in economic destruction. Newfoundland is a case study.

Most socialists are not misguided about how to have a prosperous economy, for that is not their goal.

Whether political elites promote outright socialism or interventionism, thanks to the reality of economic calculation, they are advocating a failed economy.

Wendell Berry is hardly Rothbardian in his economic and social outlook. His new book, however, has its Murray Rothbard moments.

Americans typically are told that private enterprise wastes resources while government preserves them. Economic truths turn that canard upside down.