Jimmy Wales, founder of Wikipedia, was influenced Friedrich Hayek’s essay, “The Use of Knowledge in Society” which argues that information is decentralized.

You know it’s true, because it says so on Wikipedia, but if you’re looking for other sources, it’s corroborated by this New Yorker article, and Wales even went on EconTalk with Russ Roberts to discuss it. You can hear the full podcast over at EconTalk.

Want to learn more about this “use of knowledge in society” stuff? Check out our video below on how the price system conveys information.