“The Use of Knowledge in Society” (1945)

One of Hayek’s most important contributions to economic theory is his demonstration of the part prices play in disseminating widely diffused knowledge about consumer demand and the availablility of economic resources in order to make rational economic calculation possible.

“The Use of Knowledge in Society,” American Economic Review, XXXV, No. 4; September, 1945, pp. 519–30.

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This essay is published with permission of the copyright holders the American Economic Review.

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