This thinker argued that entrepreneurs are necessary to society because central planners can't have perfect access to price information in "The Use of Knowledge in Society," and he offered an explanation of the business cycle in Prices and Production.
This thinker argued that entrepreneurs are necessary to society because central planners can't have perfect access to price information in "The Use of Knowledge in Society," and he offered an explanation of the business cycle in Prices and Production. The best-known work by this author of The Constitution of Liberty was criticized by Walter Block for compromising on issues such as admitting the necessity of working hour regulations; that work argued that since collectivism requires that an unnatural state of cooperation be maintained, it would eventually require a strong central power, leading to the title condition. For 10 points, name this liberal Austrian economist who wrote The Road to Serfdom.
This thinker argued that entrepreneurs are necessary to society because central planners can't have perfect access to price information in "The Use of Knowledge in Society," and he offered an explanation of the business cycle in Prices and Production.
Friedrich August von {Hayek}