Sublime

Friedrich Hayek’s book The Fatal Conceit: Errors of Socialism expressed with clarity and authority what I had long felt but was unable to express, namely the unwisdom of powerful intellects, including Albert Einstein, when they believed that a powerful brain can devise a better system and bring about more “social justice” than what historical

Hayek rechazó este sistema y dijo que el control estatal de la economía privaría a las personas de su libertad, aún tratándose de economía mixta.

a science is taken up as a matter of business, and the only branch of it which is attended to is such as admits of an immediate practical application.

I ended up with a picture in my head of a market economy as a far-from-equilibrium communications network that uses prices to transmit information about wants and scarcities to people who make production and consumption decisions, exactly as Friedrich von Hayek4 explained almost 90 years ago.