Production Theory

"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."

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.

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.

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

Conclusion to How to Think about the Economy: A Primer

Part III: Intervention, Chapter 9: Regulatory Intervention

Part III: Intervention, Chapter 8: Monetary Intervention

Part II: Market, Chapter 7: Economic Calculation

Part II: Market, Chapter 6: Value, Money, and Price

Part II: Market, Chapter 5: Production and Entrepreneurship