The Use of Knowledge in Society

About this film

LibriVox recording of The Use of Knowledge in Society by Friedrich Hayek. Read in English by LibriVox Volunteers 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) For further information, including links to online text, reader information, RSS feeds, CD cover or other formats (if available), please go to the LibriVox catalog page for this recording. For more free audio books or to become a volunteer reader, visit librivox.org . M4B Audiobook (17MB)

Directors & creators

Friedrich Hayek

Subjects

librivox; audiobooks;economics

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