Vicki C. Jackson, the Laurence H. Tribe Professor of Constitutional Law at Harvard Law School, delivered the keynote address at this year’s Constitutional Law Colloquium at Loyola Law School in Chicago. In summary, Professor Jackson’s talk, which was titled “Protecting knowledge institutions in constitutional democracies,” was based on a paper she published in 2021 (see here) and a blog post she wrote in 2019 (here). Her talk, however, was underwhelming, for her two paradigm examples of a “knowledge institution” are universities and the press. Put aside the fact that these two institutions are often the enemies of knowledge: the mainstream media stokes outrage and promotes biased or superficial narratives, while our elite universities have now become exclusionary and faddish guilds devoted not to knowledge but to “diversity, inclusion, and equity” or DIE (see here and here, for example). The main problem with Professor Jackson’s keynote address is that she failed to mention one of the most important knowledge institutions of all time: the price mechanism. Simply put, an important ingredient in the dish of democracy are decentralized markets. Paging F. A. Hayek! Alas, there is not even a single reference to Hayek in her 2021 paper or in her 2019 blog post.