It is because every individual knows little and, in particular, because we rarely know which of us knows best best that we trust the independent and competitive efforts of many to induce the emergence of what we shall want when we see it.
All political theories assume, of course, that most individuals are very ignorant. Those who plead for liberty differ from the rest in that they include among the ignorant themselves as well as the wisest. Compared with the totality of knowledge whic...
