Sunstein has placed Hayek into a 'Samuelsonian Arrow-Debreu box' that Hayek explicitly rejected: Hayek never claimed prices were right or that a correct price was knowable; rather he was concerned with how society solves the problem of order and responds to dispersed change in supply and demand while allowing people to keep making decisions.

factualpending

Speaker

Russ Roberts

Evidence Quote

you've put Hayek into a what I would call a Samuel Sounion arrow-debreu box that was a box that he explicitly rejected

Source

Sunstein on Infotopia, Information and Decision-MakingEconTalk
Created: 6/15/2026, 9:20:35 AM

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