Steve Horwitz su facebook:
For my libertarian friends: today's Nobel Prize is not as awful a decision as you seem to believe. Yes, "market design" is not the best name, and yes, a it does suffer from the pretense of knowledge in places, but if you read their work, they DO recognize that rules matter and that if we want markets to work effectively, we need to make sure the rules that frame them are good ones. That's a point central to both Hayek and Buchanan.
The big question is whether such rules can emerge endogenously or need to be handed down from the top. A number of young Austrian scholars are working on precisely this question. The market design literature is better than what came before it and poses just the right challenge for Austrians.




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