With a new preface by the author, this reissue of Thomas Sowell's
classic study of decision making updates his seminal work in the context
of "The Vision of the Anointed." Sowell, one of America's most
celebrated public intellectuals, describes in concrete detail how
knowledge is shared and disseminated throughout modern society. He warns
that society suffers from an ever-widening gap between firsthand
knowledge and decision making -- a gap that threatens our very freedom
because actual knowledge gets replaced by assumptions based on an
abstract and elitist social vision of what ought to be.
"Knowledge and Decisions," a winner of the 1980 Law and Economics Center
Prize, was heralded as a "landmark work" and selected for this prize
"because of its cogent contribution to our understanding of the
differences between the market process and the process of government."
In announcing the award, the center acclaimed Sowell, whose
"contribution to our understanding of the process of regulation alone
would make the book important, but in reemphasizing the diversity and
efficiency that the market makes possible, [his] work goes deeper and
becomes even more significant." "In a wholly original manner [Sowell]
succeeds in translating abstract and theoretical argument into a highly
concrete and realistic discussion of the central problems of
contemporary economic policy." --F. A. Hayek "This is a brilliant book.
Sowell illuminates how every society operates. In the process he also
shows how the performance of our own society can be improved." --Milton
Friedman
"This is a brilliant book. Sowell illuminates how every society
operates. In the process, he also shows how the performance of ourown
society can be improved."--Milton FriedmanA
