Author Archives: F. E. Guerra-Pujol

I want to resume my four-part critique of F. A. Hayek’s conception of knowledge by exploring what some scholars refer to as the commodification of knowledge. (For an overview of this anti-capitalist literature, check out this book, which sells for … Continue reading →

Originally posted on prior probability:
Given the cover-up of the Wuhan lab-leak, the crack-down against the pro-democracy movement in Hong Kong, and the atrocities in Xinjang province, why the heck are we still trading with China?

A previous post of mine identified four possible problems with F. A. Hayek’s classic defense of the price system; in this post, I will proceed to the second critique: Hayek does not define “knowledge” in his knowledge paper. Although Hayek … Continue reading →

In a previous post, I identified four possible problems with Hayek’s defense of the price system; here, I will focus on the first critique: the absence of law in Hayek’s analysis. As it happens, I am not the first law … Continue reading →

I surveyed F. A. Hayek’s “The use of knowledge in society” during the Thanksgiving break. (See here, here, and here.) Below, I identify four possible objections to Hayek’s defense of the price system: Can you think of any other potential … Continue reading →

I love the Spanish parts of this 2010 World Cup anthem, but my favorite part is when K’naan sings: “When I get older, I will be stronger/They’ll call me freedom, just like a wavin’ flag.”

Thus far, I have reviewed the first six parts of F. A. Hayek’s “The use of knowledge in society.” This leaves the last part (Part 7) of Hayek’s knowledge paper, where Hayek responds to Joseph Schumpeter’s defense of central planning … Continue reading →

“The problem is … how to dispense with the need of conscious control and how to provide inducements which will make the individuals do the desirable things without anyone having to tell them what to do.”   “…this problem [the … Continue reading →

Hello, fellow nerds! I posed the following key question in my previous blog post: How likely is it that the price of any given belief contract on my truth market will eventually converge on the truth value of the conspiracy … Continue reading →

I recently proposed the creation of a “truth market” to allow people to buy and sell “belief contracts“; i.e. to place bets on conspiracy theories and fake news. One practical problem a new market must overcome, however, is “transaction costs” … Continue reading →