Let’s Discuss! Friedrich Hayek, The Use of Knowledge in Society

On Thursday, 9th of July, we’re going to meet and discuss Friedrich Hayek’s essay The Use of Knowledge in Society. First published in 1945, it is widely regarded as one of the most influential essays in economics and political philosophy of the twentieth century.

In the essay, Hayek explores a simple question: how can society make use of knowledge that is dispersed among millions of individuals? He argues that no single person, expert, corporation, or government possesses all the information needed to organize a complex economy. Instead, much of the knowledge relevant to social cooperation exists only in fragmented and local forms – in the experiences, circumstances, and decisions of ordinary people. According to Hayek, the price system acts as a remarkable mechanism for communicating and coordinating this knowledge without anyone needing to understand the whole picture.

The essay raises broader questions that extend far beyond economics. How much can society be consciously designed? What are the limits of expertise? When should we trust centralized planning, and when should we rely on decentralized processes? Let’s discuss!

Friedrich Hayek (1899–1992) was an Austrian-British economist, political philosopher, and one of the leading defenders of classical liberalism in the twentieth century. His work explored the nature of markets, knowledge, law, and social institutions. In 1974, he received the Nobel Memorial Prize in Economic Sciences for his contributions to the understanding of economic and social order.

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Anyone is welcome to join! No background in economics or philosophy is needed. Before the meeting, please read the essay (it’s only about 15 pages long), think about it, and note any passages you find especially interesting, challenging, or worth discussing. We’ll share our thoughts and interpretations during the meeting.

Organizational notes:
📍 Attendance is free
⏳ Spots are limited
🔗 Please register via the app so we know how many people to expect and can reserve a table accordingly