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Admit You Don’t Have A Clue

October 1, 2011
By Daniel McLaughlin , The Post-Journal

In his acceptance speech for the Nobel Prize in Economics, Friedrich Hayek articulated the idea of the pretense of knowledge. He recognized that even if politicians and economists were angels with the best intentions, they would still be incapable of bringing about desired positive results for the economy and the nation.

 
 
 

 

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