The art of economics consists in looking not merely at the immediate hut at the longer effects of any act or policy; it consists in tracing the consequences of that policy not merely for one group but for all groups—Henry Hazlitt
Wednesday, January 30, 2013
Video: Hayek on the Importance of Price Signals
In the following video, the great Austrian economist Friedrich von Hayek clarifies on some of the popular misconceptions on the free market by explaining the significance of price signals...(hat tip Bob Wenzel)
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