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Sunday, December 13, 2009

Gifts and The Knowledge Problem

Of interest, (broken link) though its not as deep as I first thought:

' ... The problem of buying good presents for other people, even people you supposedly know well, illustrates that old familiar Hayekian concept, the knowledge problem. If you can't even give your loved ones the right presents, how likely is it that a central authority could make the right decisions for everyone? ... '

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