Bob untangles two arguments that even Austrian economists sometimes conflate: Mises' calculation problem and Hayek's knowledge problem. Then, he explains why the distinction matters, especially in light of recent claims that AI and modern computing could finally make central planning viable.
Related:
- Bob's Article, "Socialism: The Calculation Problem Is Not the Knowledge Problem": Mises.org/HAP543a
The Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree
