About the price system, Friedrich Hayek wrote, "I have deliberately used the word 'marvel' to shock the reader out of the complacency with which we often take the working of this mechanism for granted. I am convinced that if it were the result of deliberate human design . . . this mechanism would have been acclaimed as one of the greatest triumphs of the human mind." He means that:
A) people have a hard time seeing how important the price system is because no one designed it.
B) the price system was deliberately designed by the human mind.
C) the price system is widely regarded as an important invention.
D) the mechanism does not work very well.

Question

Quizplus · Accepted Answer

Hayek is saying that people take the importance of the price system for granted precisely because it was not deliberately designed, but rather emerged spontaneously. If it had been intentionally designed, he argues, it would be widely celebrated as a great achievement. Therefore, option A is the best choice.

About the Price System, Friedrich Hayek Wrote, "I Have Deliberately