If it is true that prices are signals which enable us to adapt our activities to unknown events and demands, it is evidently nonsense to believe that we can control prices, writes Friedrich A. Hayek (1899–1992). This audio Mises Daily is narrated by Nathaniel Foote.
Our reflections thus yield the conclusion that an alleviation of cyclical fluctuations should be expected preeminently from a greater publicity among business enterprises, and particularly among the banks.
The Fortunes of Liberalism collects Hayek's writings on various Austrians such as Wieser , Mises , Schumpeter , Menger , Ropke , Leoni , and Strigl , as well as Mach , Clark, Mitchell, de Jouvenel , and Ac ton. It includes interp retative essays on the place of the Austrian School in the 1920s .