Reading Links
This post comes under the sub-section Reading Links. Under Reading Links, I'll post some interesting readings that I come across everyday. All of them will be connected to the topics we explore at OPW.
This seminal paper was written in 1945 by Friedrich Hayek, one of the most influential economists of twentieth century.
At a time when there was growing acceptance for centralised governance and price fixing policies, Hayek pushed against it in his own inimitable way. In this paper he highlights the organic nature of markets, incentives of market players, talks about why even well-intentioned price fixing policies are a fool’s errand and the importance and efficiency of the price system. At the centre of it all, and all his other work, is his conviction about the centrality of individual liberty and freedom.
Read the paper here.
You can read my notes from the paper here.