Mar 16, 1996
Mario Rizzo on a Better Concept of Coordination
In this 1996 speech at a Center for Market Processes conference, Mario Rizzo lectures on Austrian economics, describing markets as uncoordinated, organized systems where entrepreneurial learning occurs instantaneously in order to counter shocks (somewhat akin to Israel Kirzner’s definition).
Mario Rizzo is currently an associate professor of economics at New York University and the director of the Program on the Foundations of the Market Economy. He is co-author (with Gerald O’Driscoll) of The Economics of Time and Ignorance (1985).