We Are All Hayekians Now: The Internet Generation and Knowledge Problems - 1 views
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Primarily in his The Use of Knowledge in Society but also in his other contributions to the socialist calculation debate, Hayek crafted a brilliant statement of a perennial problem.
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In the world of human endeavor, we have two types of problems: economic and technological.
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Technological problems involve effectively allocating given resources to accomplish a single valuable goal.
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"We are all Hayekians now. Specifically, the "we all" is not quite everyone. The "all" to which I'm referring is people of the internet-people who've grown up with the net and use it for a majority of their day-to-day activities. And, the "Hayekian" to which I'm referring is not his theories on capital, or the rule of law, but, specifically his vision of knowledge."