Question

Please help:

2)
Which of the following is a major contribution of economist Friedrick Hayek?
Select one:
a. wrote "The Wealth of Nations" and advocated for laissez faire
b. explained why central planning undermines human liberty and, if pursued far enough, will lead to tyranny; told how the essential institutions of a free society develop without central planning
c. stressed the importance of the quantity of money as an instrument of government policy and as a determinant of business cycles and inflation.

Answer 1

The answer is B. Nobel Laureate Friedrich Hayek presented why socialism weakens human liberty and, if tracked far enough, must upshot in tyranny. He told why brutes control so many socialist governments. He clarified how organizations of a free society grow without central planning. For Letter A, it was Adam Smith and C was Milton Friedman.