Can Artificial Intelligence Solve Hayek’s Knowledge Problem?
While socialists complain about AI, at least some believe that it can engage in economic planning, thus bypassing the Hayekian knowledge problem.
While socialists complain about AI, at least some believe that it can engage in economic planning, thus bypassing the Hayekian knowledge problem.
American investments in Venezuela are likely to provide little direct financial benefit to the taxpayers shouldering the cost. They risk empowering a dictatorship that uses its power to repress its citizens and private enterprises.
For all of his overt hostility toward the United States, George Soros certainly has a strong foothold in the Trump administration, as a number of his acolytes have key positions, including Secretary of the Treasury Scott Bessent.
Modern civil rights laws and policies have made a large number of people better off. However, the beneficiaries are not the people that the civil rights establishment claims to be helping. No one understands this better than the great economist, Thomas Sowell.
The US had tried unsuccessfully for more than 60 years to bring down Cuba’s regime, it being done at a huge cost to the Cuban people. The Trump administration’s latest embargo expansion is only making things worse.
Donald Trump may have declared, “I love inflation,” but for regular families, inflation is perhaps their worst enemy.
Democratic socialists claim they can painlessly transform the US economy into one where no one has debt, housing and medical care is free, and the state meets everyone's needs. Their ideas are internally incoherent.
Jacob Siegel visualizes that, in an information-state form of government, government’s ultimate control by voters would get replaced by the digital monopolization of voters’ attention, adjustment of voters’ perceptions, and conditioning of voters to see certain outcomes as inevitable.
The Policy and History faculty panel takes student questions on the state of the movement and the prospects for freedom.
Keynesians claim that recessions occur because of a lack of consumer demand. However, demand comes from what we produce, so a growing economy needs more production.