In a message dated 7/16/00 6:29:39 AM Eastern Daylight Time,
[EMAIL PROTECTED] writes:
<< If basic needs are supplied in a fair manner, I don't really care if the
market
exists or not. But, how does Hayek's great insight explain why health care
can be
planned and other goods can not. Why is there an incentive to get good
information in this case and not in others? Surely the proposition was
general. >>
Hayek had a deep insight, and, like many peop;le with such an insight, went
overboard with it. We might take it for what it is worth, while correcting
for its overstatement. However, his main point was not that _nothing_ could
be planned, but that _not everything_ could be planned. He was in fact a lot
less ferocious about markets than a lot of his followers, A big U of Chicago
Law School libertarian, Richard Epstein, recently took him to task for that
in a piece in the U Md. L. Rev. My poiint too is that planning cannot
tiotally or largely displace markets, not that it cannot be used where
experience shows it works. --jks
