and even know how to spell his name?
George Soros writes:
"Friedrich Hayek is generally regarded as the apostle of a brand of economics which holds that the market will assure the optimal allocation of resources — as long as the government doesn’t interfere. It is a formalized and mathematical theory, whose two main pillars are the efficient market hypothesis and the theory of rational expectations.
"This is usually called the Chicago School, and it dominates the teaching of economics in the United States."
It's really hard to imagine how anyone could do worse than Soros and still know how to spell 'Hayek', since:
1) Hayek did not think the market will "assure the optimal allocation of resources."
2) Hayek's theories were not "formalized and mathematical."
3) Hayek rejected anything like "the efficient market hypothesis."
4) Hayek was most definitively not a member of the Chicago School.
Soros's piece is stunning in its display of ignorance. It is as though his impression of Hayek post-1950 is formed entirely by hearsay and completely disconnected from Hayek's actual writings.
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