CryptoQuikRead_251 - Use of Knowledge in Society [Part 2 - F. A. Hayek]

May 22, 2019 00:52:40
CryptoQuikRead_251 - Use of Knowledge in Society [Part 2 - F. A. Hayek]
Bitcoin Audible
CryptoQuikRead_251 - Use of Knowledge in Society [Part 2 - F. A. Hayek]

May 22 2019 | 00:52:40

/

Hosted By

Guy Swann

Show Notes

The brilliance of the price system is in coordinating the values, deeply limited knowledge and scarce resources precisely to their highest value need without having to understand or be aware of every single change in supply, alternatives, and uses of those resources among the economic participants.  It is specifically because we only receive the most important piece of information, its new value in relation to other things (the price), that we can so quickly align ourselves with the new state of the world.  Don't miss the conclusion of Hayek's work, "The Use of Knowledge in Society."

Visit the full piece, and the collection of other great work, economic analysis, news, & more over at fee.org.
https://fee.org/articles/the-use-of-knowledge-in-society/#0

--- Send in a voice message: https://podcasters.spotify.com/pod/show/bitcoinaudible/message

Other Episodes

Episode

July 26, 2021 01:52:38
Episode Cover

Read_546 - Could Bitcoin Be Palestine's Currency of Freedom? [Alex Gladstein]

“Independence is financial,” Abukhdeir told me. “If we don’t have financial freedom, nothing is going to change.” - Alex Gladstein Another brilliant addition to...

Listen

Episode

September 18, 2018 00:36:26
Episode Cover

CryptoQuikRead_152 - Yin and Yang of Bitcoin [Bitcoin's POW #2 - LaurentMT]

Listen to @Laurentmt's article explaining how the Yin and Yang of Bitcoin, Hodling & Mining, affect the efficiency of the system and how they...

Listen

Episode

February 07, 2019 00:59:55
Episode Cover

CryptoQuikRead_210 - Human Threat Model [Part 1 - JW Weatherman]

Today we begin the "Human Threat Model," by @jwweatherman.  An exploration of the attack surface that exists in the very nature of being human,...

Listen