Monday, December 8, 2008

Dr Manmohan Singh Should learn from Professor F A Hayek

Doug French writesHayek explains, "such complex phenomena as the market, which depends on the actions of many individuals, all the circumstances which will determine the outcome of a process...will hardly ever be fully known or measurable. …..the government’s moneymen are engaging in what Hayek referred to as "the fatal conceit," thinking they have the knowledge to fix and plan the economy. They can and will only make matters worse”.

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