Audiobook

Use of Knowledge in Society

An article written from a scholarly point of view in 1945 which critically examines the concept of a planned economy while highlighting the efficiencies of a decentralized market structure (as propounded by Ludwig von Mises and the Austrian School of Economics). Hayek, famous for stating von Mises' complex theories in more understandable terms, highlights in this short paper the important role of "localized information" in a decentralized economic structure, which is unavailable to central planners, comparing their purely theoretical arguments against real "free market" statistics that have been proven over time and practice to produce better results. (Summary by msfry/progressingamerica)

Year of Publication: 1945Genres: Mathematics

Running Time: 38 minutes 37 seconds(6 chapters)

Language: EnglishRead by: Ted Lienhart, Stacey Malcolm, MaryT

#	Chapter Name
	Introduction Stacey Malcolm	5:25
	The Use of Knowledge in Society MaryT	6:22
	Uncommon Knowledge Ted Lienhart	5:12
	The Planner's Dilemma gont	6:45
	Useful Individual Knowledge antonyjc66	4:26
	"Miracle" of the Price System Ted Lienhart	10:27