Mises Daily
Author:
Friedrich A. Hayek
Online Publish Date:
[This article originally appeared in The Unfinished Agenda: Essays on the Political Economy of Government Policy in Honour of Arthur Seldon (1986). It has never before appeared online. An MP3 audio file of this article, narrated by Nathaniel Foote, is available for download .] “You cannot improve a signal if you do not know what it signals.” In