Information and Economics: A Critique of Hayek
Outlines Hayek's false assumptions, and points out problems of market capitalist economic miscalculation.
Libertarians frequently resort to the "socialist calculation problem" as a blanket denial that socialism could work well. Yet we are surrounded with counterexamples, such as the decentralized socialist public school system, or highly centralized capitalist enterprises such as WalMart. This critique helps us understand why Hayek's arguments should be considered little better than propaganda now.
Placed in the Austrian Economics index.