Re: Participatory Planning

[HERBERT GINTIS <gintis@xxxxxxxxxxxxxxx>]

Mark Knell writes:

>...So I
>would not say that Hayek was correct.

	I'm not saying Hayek was correct, but rather that he shifted
his emphasis into areas which we now see are both central to running
real economies, and are a very fruitful field for mining ideas in
economic theory: information theory, agency problems, and biological/
evolutionary mechanisms. By contrast, those who followed the
Lange/Barone approach have missed these insights. In fact, I find
Hayek tremendously insightful reading, despite his attachment to some
silly ideas (e.g., the notion that state intervention is universally
harmful, or the notion that general equilibrium theory should not be
done at all).

Herb gintis@xxxxxxxxxxxxxxx