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.