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The Use of Knowledge in Society : ウィキペディア英語版 | The Use of Knowledge in Society "The Use of Knowledge in Society" is a scholarly article written by economist Friedrich Hayek, first published in the September 1945 issue of ''The American Economic Review''.〔F. A. Hayek 1945). "The Use of Knowledge in Society," ''American Economic Review'', 35(4), pp. (519–530 ).〕〔(Book Review: The Use of Knowledge in Society by Friedrich A. Hayek | The Foundation for Economic Education: The Freeman, Ideas on Liberty )〕 Written (along with ''The Meaning of Competition'') as a rebuttal to fellow economist Oskar R. Lange and his endorsement of a planned economy, it was included among the twelve essays in Hayek's 1948 compendium ''Individualism and Economic Order''. == Argument == Hayek's article argues against the establishment of a Central Pricing Board (advocated by Lange) by highlighting the dynamic and organic nature of market price-fluctuations, and the benefits of this phenomenon.〔 He asserts that a centrally planned economy could never match the efficiency of the open market because what is known by a single agent is only a small fraction of the sum total of knowledge held by all members of society. A decentralized economy thus complements the dispersed nature of information spread throughout society. In Hayek's words, "The marvel is that in a case like that of a scarcity of one raw material, without an order being issued, without more than perhaps a handful of people knowing the cause, tens of thousands of people whose identity could not be ascertained by months of investigation, are made to use the material or its products more sparingly; that is, they move in the right direction." The article also discusses the concepts of 'individual equilibrium' and of Hayek's notion of the divide between information which is useful and practicable versus that which is purely scientific or theoretical.
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