Knowledge and Decisions by Thomas Sowell
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An all-time classic by Thomas Sowell in the true tradition of Friedrich Hayek, this book explores how knowledge is distributed across individuals and how it’s best if decisions are made by those who are closest to the point of knowledge and who have the best incentives. This book shapes much of Sowell’s later work, which involves pithy quotes and summaries of ideas which are fleshed out in considerable detail here.
[...] Thomas Sowell takes a similar view of systemic processes and knowledge, as described in his books Knowledge and Decisions and Conflict of Visions. In the latter book, he writes (pages 41-42): Also implicit in the [...]
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