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The works of Friedrich Hayek John Maynard Keynes and Milton Friedman whom i consider to be the three most influential economists of the 20th century and of the three, i really consider hayek to be the most influential. He addressed what i call the Knowledge Problem and this seems to me to be perhaps the most important contribution to economics since the time of adam smith. And this is what hayek had to say. About knowledge he said in economics, theres a problem of the division of knowledge. Which is quite analogous, too. And at least as important as the problem of the division of labor put for...

Discussion today by reviewing the works of Friedrich Hayek John Maynard Keynes and Milton Friedman whom i consider to be the three most influential economists of the 20th century and of the three, i really consider hayek to be the most influential. He addressed what i call the Knowledge Problem and this seems to me to be perhaps the most important contribution to economics since the time of adam smith. And this is what hayek had to say. About knowledge he said in economics, theres a problem of the division of knowledge. Which is quite analogous, too. And at least as important as the problem of...

Bernards healthcares of democrats say they want 75 of democrats want somebody other than sleepy joe to run for president. Fox news hit the streets to ask voters about the very topic and the answers, oh, theyre not good for joe. Some say hes not living up to his promises and others say hes older than the milk at gas station coffee bar. Most people, they just want someone else, watch. I think the democratic field is a little bit splintered now. I think cory booker has a shot. I think Pete Buttigieg has a shot but its hard to say. Probably hillary, but shes not very well liked. Probably kamala ha...

Economics, theres a problem of the division of knowledge. Which is quite analogous, too. And at least as important as the problem of the division of labor put forward by adam smith. But while the latter has been one of the main subjects of investigation ever since the beginning of our science. The former has been as completely neglected. Although it seems to me to be the really central problem of economics. As a social science the problem we pretend to solve is how the spontaneous interaction of a number of people each only possessing bits of knowledge. Bring about a state of affairs that corr...

Host mark skousen, what is your background . Guest i am an economist from a group in portland oregon, which was an intellectual town. It has the Worlds Largest bookstore. Ive always been an intellectual type, but i also like music and dance and entertainment and sports. Similar bit of a renaissance man. Worked for the cia. Cant talk about that and then i got into the financial world and that internet ever since. I have a phd in economics. My family lived in washington d. C. , where cspan is. We call it death star. We got tired of the rat race, so we moved the bahamas and lived there for two ye...