Epistemic arguments play a significant role in Hayek's defense of market liberalism. His claim that market competition is a discovery procedure that serves the common good is a case in point. The hypothesis of the markets' efficient use of existing knowledge is supplemented by the idea that...

Creativity is often highly concentrated in time and space, and across different domains. What explains the formation and decay of clusters of creativity? In this paper we match data on thousands of notable individuals born in Europe between the XIth and the XIXth century with historical data on...

Hayeks frühes Plädoyer zugunsten dezentraler Planung beruht auf seinem innovativen Argument überlegener Wissensverarbeitung, das dem Wettbewerb wichtige gesell-schaftspolitische Funktionen zuschreibt. In seinen späteren Schriften hat er herausgear-beitet, wie wichtig der Wettbewerb ist, um...