tag:blogger.com,1999:blog-2533554759458923621.post6503462813705205054..comments2023-11-05T03:44:59.313-08:00Comments on Essence and Artifact: Hayek's "The Use of Knowledge in Society" and How I abridged the 1945 Free-Market Article that inspired WikipediaShane Brinkman-Davis Delamorehttp://www.blogger.com/profile/15859226113816420309noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-2533554759458923621.post-8412095292957080032022-07-22T11:34:43.680-07:002022-07-22T11:34:43.680-07:00"The Use of Knowledge in Society" is a s..."The Use of Knowledge in Society" is a scholarly article written by economist Friedrich Hayek.<br />We clean the carpet spills and stains with professional <b><a href="https://axispwf.com/best-carpet-stain-removal-services-in-houston-tx/" rel="nofollow">Carpet Stain Removal Services In Houston TX</a></b> and surrounding areas.MartenJameshttps://www.blogger.com/profile/10235547835801977725noreply@blogger.comtag:blogger.com,1999:blog-2533554759458923621.post-7835260428038219192011-06-26T12:36:33.447-07:002011-06-26T12:36:33.447-07:00I just found there is an EconTalk interview of Jim...I just found there is an EconTalk interview of Jimmy Whales specifically about how Hayek influenced him with Wikipedia: http://www.econtalk.org/archives/2009/03/wales_on_wikipe.htmlShane Brinkman-Davis Delamorehttps://www.blogger.com/profile/15859226113816420309noreply@blogger.comtag:blogger.com,1999:blog-2533554759458923621.post-8696495610430051342011-06-26T12:35:57.871-07:002011-06-26T12:35:57.871-07:00Jason, your comment closely mirrors my own thinkin...Jason, your comment closely mirrors my own thinking. I think the role of regulation is to promote and enforce "honesty in trade". I don't think regulation* should ever tell you what you can and cannot do. However, when "designing a society", if we allowed people to get ahead through fraudulent trade, we wouldn't be much better off than if we allowed people to get ahead through threat, intimidation and physical harm. <br /><br />I like regulation like requiring food products to have nutrition labels. Even such hands-off regulation is vulnerable to corruption and lobbying. However, it is much less likely to be significantly corrupted than overt "you can't do" or "you must do" regulations because the rewards of manipulating the system are so much smaller.<br /><br />I don't like regulation like saying you can't bring a drug to market unless it is FDA approved. Just require a label clearly stating the known risks, how well researched, or poorly researched, the drug is, and let consumers and their doctors decide.<br /><br />* When I say "regulation" I am excluding core laws and rights such as Property Rights and the Bill of Rights, etc.Shane Brinkman-Davis Delamorehttps://www.blogger.com/profile/15859226113816420309noreply@blogger.comtag:blogger.com,1999:blog-2533554759458923621.post-37941159619643396122011-06-21T09:38:56.412-07:002011-06-21T09:38:56.412-07:00I read the essay this morning and really appreciat...I read the essay this morning and really appreciated it! I love viewing the economy as exchange of information rather than mere allocation of resources - that cuts directly to the "essence" of the concept and illustrates its function. As history would attest, central planning can never achieve the fidelity and throughput of massively parallel and local individual decision. However, I don't believe the essay's truths can be used to argue against all government regulation, as many might attempt.<br /><br />The problem I'm concerned with is this: what happens in aggregate when the individual decision itself is based on incomplete, flawed, or fraudulent information? From anecdotal experience, I believe that this condition is more the rule than the exception. I guess I believe that the function of government must be to support the integrity of the information used to make the individual decision, since fraud and mistruth are so apt to run rampant.<br /><br />Thoughts?Jason Thanehttps://www.blogger.com/profile/10168118222943292185noreply@blogger.comtag:blogger.com,1999:blog-2533554759458923621.post-29584462957123403112011-06-21T09:06:02.972-07:002011-06-21T09:06:02.972-07:00Fantastic, thanks for sharing this. As a modern r...Fantastic, thanks for sharing this. As a modern reader I found your version much more enjoyable and didn't experience my usual "austrian drift" as I struggle to maintain focus through the complex sentence structures and academic references. Maybe in the next decade you can take on Von Mises' Human Action or Theory of Money and Credit. :DDeepfallhttps://www.blogger.com/profile/15654139278669341676noreply@blogger.com