Download MP3

As the Trump administration and Amazon/Bezos almost duked it out over the “shocking” idea of disclosing the impact to prices from taxes on imports, those of us seeking to understand economic application out of cogent economic theory were given a great chance to relearn some lessons from master himself, Friedrich Hayek. It turns out price discovery is important in economics for the same reason transparency is important in political theory — and this ought to be a very non-partisan belief!