“We must make the building of a free society once more an intellectual adventure, a deed of courage… …Unless we can make the philosophic foundations of a free society once more a living intellectual issue, and its implementation a task which challenges the ingenuity and imagination of our liveliest minds, the prospects of freedom are indeed dark. But if we can regain that belief in power of ideas which was the mark of liberalism at its best, the battle is not lost”.– Friedrich von Hayek, Studies in Philosophy, Politics and Economics (1967)
What a special video. Both James Buchanan and Friedrich Hayek won Nobel Prizes. Notice how humble they speak of the use of knowledge when dealing with the human experience. Hayek is concerned that our increasingly scientific way of working through challenges in most subjects will not yield useful information quickly enough to satisfy the average person.
The human experience is not that of a factory input but of an ever changing eco-system of experiences and reactions. While there are many truths we can agree upon, we also have a barrier to our specific predictive ability and timing.