The Use of Knowledge in Society (by F.A. Hayek) 

@JimboParadox also this quote has little if anything to do with what Hayek means by utilising knowledge.

@JimboParadox Hayek is talking about knowledge of distribution is difficult, because there is way to do survey and get answers and calculate what is needed where, that's why price system was developed, it is a just a global messaging system which tells everyone what is needed and where, the people follow prices just like rats follow cheese. See this video for better understanding of what hayek mean here. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-zkPGfTEZ_r4.html

This is already baked into the Hayekian conception of knowledge. Nothing new to ML or AI Check out Philip Mirowski - the knowledge we have lost in information

I don’t think they (ever) think such a way. They rather do not ponder about it (and consequences) ... I do kinda start to learn AI/ML from the bottom up... It’s a tool. It depends in the long run what form this will have. Maybe it will be like GPT3 - available to the masses - hence decentralized. Maybe there will be some few having privet access to some radical model- getting intentionally an edge. Maybe there will be very few models - creating skewisness and decision deformation in the future information space ... or maybe there will be many competing models creating balancing power of the competition. As far as Ican see, those creating these systems do not care deeply about this aspect either way (although competition of available models is the game so far as I can say)

Hayek is known for his difficult-to-follow writing style. This essay isn't too bad for that, in my opinion. I don't recognise that quote.

There are a few reasons for this. Sometimes to convey more subtle inuendo Many intellectuals are also loners so they may read more than they socialize and this mimic other writers. Still others are frustrated poets. .

I meant nuances. Not innuendos.

what do you mean

They have apps for that.

It was a big deal back in the day. Yes people were that retarded. The history of Ideas is in part the history of someone paving the way by suddenly pointing out the obvious.

Try Sowell, he's a more modern Hayek.

Garrett Hall Actually my radar had already detected him and turned me towards Sowell. Still need maybe more particular recommendations, is there any particular book or publication You would recommend?

@@petrskupa6292 Sowell's Basic Economics is probably a good start. He's a Chicago School economist, not an Austrian, though, so he makes many of the same mistakes Hayek points out in Schumpeter here, with hyper-positivism and so on.

@Petr Skupa talking Sowell, this is probably what you were looking for when you clicked this video: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE--54Em2eL-8g.html