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All these facts are known, the decision unequivocally followed from this that to itIt is given. However the practical problem arises just because these facts Never happen are given in a similar way to any one mind, and consequently, Accordingly, it is necessary, that at its decision the knowledge was used, Sprayed among set of people. The problem, thus, is not decided at all by that we are capable to show, That all set of the facts if they were known to any one mind (As we hypothetically suppose that they are given the observer-economist), Would predetermine uniqueness of the decision. Instead we should show, how
The decision is reached by interaction of people, each of which possesses only
Partial knowledge. To suppose that all knowledge is given any one mind, precisely
The same as, according to our assumptions, it is given us as explaining To economists, means to reject a problem and to neglect everything that is Important and significant in the real world. That the economist of a rank of professor Shumpetera has got thus to a trap, Placed for precipitate people an ambiguity of the term of Udannoey, it
Whether it is possible to explain as a simple error. It assumes without delay something deeply
Incorrect in the approach habitually neglecting with the major part of the phenomena, with
With which we should deal: ineradicable imperfection of the human
Knowledge and requirement following from here for continuous process of transfer and
Acquisitions of knowledge. Any approach which begins in practice with the assumption,
That the knowledge of people corresponds to the objective facts of a situation, as it and
Occurs in many sections of mathematical economy to its systems The equations, consistently rejects that, the explanation of that makes ours The main task. I am far from denying that in our system The equilibrium analysis executes useful function. But when it starts to lead our leading thinkers to the false
To submission that the situation described by it has a direct bearing on the decision
Practical problems, it is a high time to recollect that it at all has no business with
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