Hayek, the Mind, and Spontaneous Order: A Critique
From Critiques Of Libertarianism
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Richard Posner finds Hayek's refutation of universal central planning to be useless in real-world mixed economies. He points out Ronald Coase has shown that central planning works better than markets for some problems, hence firms (including governments.)
Nothing in this index yet.
[Hayek] is not evaluating a mixed system, in which there is a degree of personal freedom but also a degree of imposed order. A mixed system is what we and our peer nations have, and I have not been able to figure out what help Hayek offers for evaluating such a system.
Richard Posner, "Hayek, the Mind, and Spontaneous Order: A CritiqueHayek, the Mind, and Spontaneous Order: A Critique"