How information and incentives solve economic problems
Religion & Liberty Online

How information and incentives solve economic problems

Note: This is post #18 in a weekly video series on basic microeconomics.

To solve economic problems we need to solve information and incentive problems. In this video, Alex Tabarrok looks at how Nobel Prize-winner Friedrich Hayek described the price system and its approach to solving the information problem.

In this video, we take a look at how Nobel Prize-winner Friedrich Hayek described the price system and its approach to solving the information problem.

(If you find the pace of the videos too slow, I’d recommend watching them at 1.5 to 2 times the speed. You can adjust the speed at which the video plays by clicking on “Settings” (the gear symbol) and changing “Speed” from normal to 1.25, 1.5 or 2.)

Previous in series: The great economic problem

Joe Carter

Joe Carter is a senior writer for The Gospel Coalition, author of The Life and Faith Field Guide for Parents, the editor of the NIV Lifehacks Bible, and coauthor of How to Argue Like Jesus: Learning Persuasion from History’s Greatest Communicator. He also serves as an associate pastor at McLean Bible Church in Arlington, Va.