The use of information in charities - with apologies to Hayek
Is your organisation a planned economy?
The economist Paul Seabright once mentioned travelling through London with a Russian bureaucrat who asked him ‘tell me, who is in charge of the supply of bread to the population of London?’ It’s a dazzling question – and the answer is, of course, no-one. Who, after all, could possibly calculate the needs of the city, and plan the delivery of your daily bread from seed to toaster?