Episode 123: Economics with Hayek and Sen (Intro by Seth Benzell)

On F.A. Hayek's "The Use of Knowledge in Society" (1945) and Amartya Sen's On Ethics and Economics (1987). Is economics a pseudoscience? Are its assumptions by necessity too over-simplifying? Hayek objects to the idea of planning an economy, because the planners aren't in a position to know enough. With guest Seth Benzell, who starts us off with a "precognition" of the material. End song: "People Who Throw Away Love" by Mark Lint from The Cheese Stands Alone. Get this and every episode ad-free by becoming a PEL supporter at partiallyexaminedlife.com/support.