First published at 17:45 UTC on June 26th, 2022.
“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. To the naive mind that can conceive of order only as the product of deliberate arrangement, it may seem absurd that in compl…
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“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design. To the naive mind that can conceive of order only as the product of deliberate arrangement, it may seem absurd that in complex conditions order, and adaptation to the unknown, can be achieved more effectively by decentralizing decisions and that a division of authority will actually extend the possibility of overall order. Yet that decentralization actually leads to more information being taken into account.”
― Friedrich Hayek, The Fatal Conceit: The Errors of Socialism
“The world has, from time to time, been led into such a long maze of mistakes, by those who gained by deceiving, that whoever would instruct mankind, must begin with removing their errors; and if they were everywhere honestly apprized of truth, and restored to their senses, there would not remain one nation of bigots or slaves under the sun: A happiness always to be wished, but never expected! In most parts of the earth there is neither light nor liberty; and even in the best parts of it they are but little encouraged...
...What a melancholy reflection is this, that the most terrible and mischievous foes to a nation should be its own magistrates! And yet in every enslaved country, which is almost every country, this is their woeful case.”
The Right And Capacity Of The People To Judge Of Government.
Cato’s Letters, No. 38, July 22, 1721
Core content Courtesy of Rafi Farber
https://www.youtube.com/channel/UCYhpYwnKIVsuHZs1txP6biA
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