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A comment on Markets are Efficient if and Only if P = NP. Parent comment

Re:Markets are Efficient if and Only if P = NP by jbooth on Wednesday August 17, 2011 @01:55PM (#2896212)
I'm confused because everyone who follows Hayek seems to have the solution in hand before they've even heard the problem statement, and that solution doesn't acknowledge those concerns.

I've never heard a self-proclaimed Hayek follower (note that word, follower not thinker) say "I'm worried that the private sector doesn't arrive at the correct incentives in this case" about anything, ever. That's why I'm confused.

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Re:Markets are Efficient if and Only if P = NP by yummyfajitas on Wednesday August 17, 2011 @09:35PM (#2897627)
You should try reading Hayek, rather than listening only to straw men who claim to have read his books. He was well aware of information problems, externalities, etc. You might dislike the fact that he believes politicians are also subject to these problems, but he is hardly unaware of them.

If you want to see Hayek followers concerned about such issues, go read the blogs of assorted gmu economists (Tyler Cowen, Robin Hanson, Bryan Caplan, etc).

http://www.overcomingbias.com/2009/11/require-baby-paternity...

http://havemorekidsbook.com/

Or see anyone who pushes the signalling model of education.

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Re:Markets are Efficient if and Only if P = NP by CWuestefeld on Thursday August 18, 2011 @06:46AM (#2898722)
He was well aware of information problems

That's an understatement. It was a significant theme throughout his work.

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