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Tag Archives: society

Hayek’s Demon

August 8, 2013 By Cal Abel in Blog, Economic Theory Tags: central plan, economics, Hayek, information, knowledge, knwoledge, policy, second law, society 1 Comment

After reading Hayek’s “The Use of Knowledge in Society“, I was immediately reminded of Maxwell’s demon, or rather of Leo Szilard’s response.  The similarity between the logic of Szilard and Hayek are what I discuss today. Continue reading →

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