The Best of the OLL No. 12: F.A. Hayek, “The Use of Knowledge in Society” (1945)

This is part of “The Best of the Online Library of Liberty” which is a collection of some of the most important material in the OLL. This one comes from an influential article by Hayek from 1945 in which he demonstrates the part prices play in disseminating widely diffused knowledge about consumer demand and the availability of economic resources in order to make rational economic calculation possible.