Hayek-lesson 9 Flashcards
1
Q
What was hayek a supporter of?
A
Free market
2
Q
What was hayek a critic of?
A
Comman economies
3
Q
What did Hayek believe the government shouldn’t do?
A
Intervene to allocate resources as they lack the info required to allocate them in a way that most benefits society
4
Q
Who did Hayek believe had the best knowledge on what they need?
A
Individual consumers and producers
5
Q
What did Hayek believe would naturally allocate resources?
A
S&D
