Policy Forum

Hayekian Insights on Economic Development

March 18, 2008 12:00 PM to 1:30 PM EDT

Auditorium/Wintergarden

Featuring William Easterly, Professor of Economics, New York University, with comments by Arvind Subramanian, Senior Fellow, Peterson Institute for International Economics. Moderator Ian Vásquez, Cato Institute.

Join the conversation on Twitter using #CatoEvents. Follow @CatoEvents on Twitter to get future event updates, live streams, and videos from the Cato Institute. If you have questions or need assistance registering for the event, please email our staff at events@​cato.​org.

Economic success‐​among individuals, firms, products and countries‐​is often unexpected and unpredicted. William Easterly will draw on insights from Nobel laureate Friedrich Hayek to explain why prediction is difficult, success is rare and failure is common; the advantages of decentralized decision making to discover what works best in the market and in public policy; and the need to rely on dispersed and local knowledge, rather than government planning, for poor countries to achieve growth. Arvind Subramanian will draw on his experience working at multilateral institutions to comment on the relevance of Hayek’s insights to developing countries and the current foreign aid debate.