Before revision: It is a description of what happens when a system embraces specialization and trade and "constitutes an information gathering process, able to call up, and put to use, widely dispersed information that no central planning agency, let alone any individual, could know as a whole, possess or control.”Hayek, F.A.
After revision: Hayek describes an extended order as the outcome of a system that embraces specialization , and he claims that it trade and "constitutes an information gathering process, able to call up, and put to use, widely dispersed information that no central planning agency, let alone any individual, could know as a whole, possess or control.”Hayek, F.A.