Knowledge is one of the most important factors determining the development of global economy and overcoming the present … existing inequalities. Humankind needs a fair distribution of the potential of knowledge because its big social problems and … for fair distribution of the benefits of knowledge in the globalized world. Made individually or collectively, these …

cost-benefit analysis. The second idea, attributable above all to Friedrich Hayek, is that knowledge is widely dispersed in … they lack that dispersed knowledge. When important information is missing, cost-benefit analysis can be exceptionally …