Holmberg and schmitt - Study guides, Class notes & Summaries

Hayek's argument - ANSWER-He asserts that a centrally planned economy could never match the efficiency of the open market because what is known by a single agent is only a small fraction of the sum total of knowledge held by all members of society. A decentralized economy thus complements the dispersed nature of information spread throughout society. 3 main point of Hayek - ANSWER-Information is needed for rational economic order Information is decentralized dispersed knowledge Price m...

Reading notes for World of Business at CU Boulder. This document includes the fairness module from when I took the class in Fall 2021. It has notes from the readings of Holmberg and Schmitt, Cowen, Vonnegut, Cohen, Haliwanger, Einstein and, Friedman.