2 – Of calculation and incentive, incentive, norms, traditions, and institutions, have been demonstrably superior to calculation in influence. Impositions on calculation are costly, and shocks must be absorbed by the polity, but function is demonstrably possible.
Source date (UTC): 2018-03-16 23:51:57 UTC
Original post: https://twitter.com/i/web/status/974795435176054786
Reply addressees: @FriedrichHayek @BobMurphyEcon
Replying to: https://twitter.com/i/web/status/974765006825832449
IN REPLY TO:
@FriedrichHayek
I’m rather shocked at how many fundamental mistakes @BobMurphyEcon makes in this article on Hayek, knowledge, Mises, and calculation. Stunned actually. https://t.co/rn3JZED9pi
Original post: https://twitter.com/i/web/status/974765006825832449
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