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The Use of Knowledge in Society | Foundation for Economic Education

If you want to learn as much as possible about economics from just one article, read Friedrich A. Hayek’s “The Use of Knowledge in Society,” published in the September 1945 issue of The American Economic Review. First, no other article explains the economic problem as clearly. Second, none provides a better understanding of the superiority of market economies. Third, it exposes one of the most deplorable fallacies in the standard approach to teaching economics. Finally, it throws a spotlight on the dangerous ignorance of economic planning. – Dwight Less

Source: The Use of Knowledge in Society | Foundation for Economic Education

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