Learning, the Austrian Economics Way

The economic problem of society is thus not merely a problem of how to allocate “given” resources—if “given” is taken to mean given to a single mind which deliberately solves the problem set by these “data.” It is rather a problem of how to secure the best use of resources known to any of the members of society, for ends whose relative importance only these individuals know. Or, to put it briefly, it is a problem of the utilization of knowledge which is not given to anyone in its totality.“- F.A. Hayek, “The Use of Knowledge in Society”

During the video, they talk about pedagogy.  Let us define pedagogy as “the art, science, or profession of teaching”.  http://www.merriam-webster.com/dictionary/pedagogy

I will also link Hayek’s important paper to read as you desire.     http://oll.libertyfund.org/?option=com_staticxt&staticfile=show.php%3Ftitle=92

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About Christopher Hessenflow

Christopher Hessenflow is a financial planner in the Chicago area. He works with all sorts of people who are much more interesting than he is. He enjoys his career which lends him time to think and, sometimes, be creative. Chip was born bald.
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