24 Hour Economy, demand, supply and the price of everything
The oldest diagram in economics still explains more than its critics allow and less than its defenders claim.
KWABENA MENEABE ACKON, (21 September 2026)
The marvel is that in a case like that of a scarcity of one raw material, without an order being issued, without more than perhaps a handful of people knowing the cause, tens of thousands of people whose identity could not be ascertained by months of investigation, are made to use the material or its products more sparingly i.e. they move in the right direction. — F. A. Hayek, The Use of Knowledge in Society (1945)
Published by Francis Buetey
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24 Hour Economy, demand, supply, the price of everything
The marvel is that in a case like that of a scarcity of one raw material, without an order being issued, without more than perhaps a handful of people knowing the cause, tens of thousands of people whose identity could not be ascertained by months of investigation, are made to use the material or its products more sparingly i.e. they move in the right direction. — F. A. Hayek, The Use of Knowledge in Society (1945)
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