Sunday, December 22, 2013

Hayek on why Obamacare won’t work

Imagine if government took over housing for those in need......
Oh.
Been there.
Wrecked it.
Hayek on why Obamacare won’t work | AEIdeas:
"~Nobel economist Friedrich Hayek, from his book “The Use of Knowledge in Society,” explaining why a decentralized market system is superior to central planning….. and why Obamacare won’t work.

"If we can agree that the economic problem of society is mainly one of rapid adaptation to changes in the particular circumstances of time and place, it would seem to follow that the ultimate decisions must be left to the people who are familiar with these circumstances, who know directly of the relevant changes and of the resources immediately available to meet them.
We cannot expect that this problem will be solved by first communicating all this knowledge to a central board which, after integrating all knowledge, issues its orders. 
We must solve it by some form of decentralization."

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