On his appearance on Tucker on X, Argentina's candidate, now President Milei mentioned this essay. Sharing here since it might be more valuable when read along with others. I'll be interested to hear your thoughts on the essay and what to read next.
That's a chunky one, but thanks for posting, good to exercise the brain once in a while... The essay is a solid explanation of the benefits of a decentralised economy vs a centralised one, and the purpose of price/cost as the mechanism that conveys information about a product or service; which seems to say, to the consumer, if it's cheap, it's easily available, fill your boots; if it's expensive, it's scarce, so look for something else or economise. You dont actually need to know why the price is high/low, you just need to act on the information. ... Ironic though, from a European perspective, the article was written in 1945, at the point most of Europe jumped head first into more central planning!
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