F.A. Hayek on the Discovery, Use, and Transmission of Knowledge
This September marked the 75th anniversary of F.A. Hayek’s pivotal essay “The Use of Knowledge in Society.” It is not only a noteworthy advance in Hayek’s critique of central planning. Hayek’s insights about competition as a ‘discovery procedure’ also provides conceptual tools for other forms of institutional analysis.
Inequality is Shrinking: Branko Milanović Disagrees with Oxfam
Every year the Oxfam report makes sensational headlines. The tenor: global inequality is increasing. 26 billionaires would own as much as the 3.8 billion poorest people in the world. Leading inequality specialist Branko Milanović unmasks Oxfam’s alarmism as misleading.