Pioneers of information economics like Joseph Stiglitz tend to neglect the Hayekian role of prices in conveying information and directing behavior in socially beneficial ways—a 'silo problem' where information theorists either consider that role already established or are not persuaded by it.

causalpending

Speaker

David Henderson

Evidence Quote

the whole idea from Friedrich Hayek that just the power of prices in directing behavior in a socially beneficial way

Source

David Henderson on Disagreeable Economists 7/30/2007EconTalk
Created: 6/16/2026, 3:03:17 PM

My Notes

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