In The Use of Knowledge in Society (1945), Hayek argued that the price mechanism serves to share and synchronise local and personal knowledge, allowing society's members to achieve diverse, complicated ends through a principle of spontaneous self-organization. He contrasted the use of the price mechanism with central planning, arguing that the former allows for more rapid adaptation to changes in particular circumstances of time and place. Thus, he set the stage for Oliver Williamson's later contrast between markets and hierarchies as alternative co-ordination mechanisms for economic transactions. He used the term catallaxy to describe a "self-organizing system of voluntary co-operation". Hayek's research into this argument was specifically cited by the Nobel Committee in its press release awarding Hayek the Nobel prize.
Which type of economy did Hayek believe the price mechanism to be less effective with?
central planning

Tarragona has one of the region's most complete ritual sequences. The events start with the building of a huge barrel and ends with its burning with the effigies of the King and Queen. On Saturday, the main parade takes place with masked groups, zoomorphic figures, music and percussion bands, and groups with fireworks (the devils, the dragon, the ox, the female dragon). Carnival groups stand out for their clothes full of elegance, showing brilliant examples of fabric crafts, at the Saturday and Sunday parades. About 5,000 people are members of the parade groups.
On what day does the main parade take place?
Saturday

A week after the implementation of the no-fly zone, NATO announced that it would be enforced. On 30 April a NATO airstrike killed Gaddafi's sixth son and three of his grandsons in Tripoli, though Gaddafi and his wife were unharmed. Western officials remained divided over whether Gaddafi was a legitimate military target under the U.N. Security Council resolution. U.S. Secretary of Defense Robert Gates said that NATO was "not targeting Gaddafi specifically" but that his command-and-control facilities were legitimate targetsincluding a facility inside his sprawling Tripoli compound that was hit with airstrikes on 25 April.
At the time of these events, what was Robert Gates' title?
Secretary of Defense