“What the planning authority would have to know would not be the mere totals but the distinct, peculiar conditions prevailing in each enterprise which affect the information about values transmitted through market prices but would be completely lost in any statistical information about quantities that might reach the authority from time to time.”

— Friedrich Hayek

1980s and later, "Two Pages of Fiction" (1982)

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Friedrich Hayek 79

Austrian and British economist and Nobel Prize for Economic… 1899–1992

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“Q, which would include quantity of space or time or force, in fact almost any kind of quantity.”

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“The informative phase refers to those things which authority should know in framing its decisions; the advisory, to the actual counsel based on such information; the supervisory, to both preceding phases as applied to all the details of execution. The point is that the line represents the authority of man; the staff, the authority of ideas. The staff is purely an auxiliary service. Its function is to be informative and advisory with respect to both plans and their execution. This is implicit in the word "staff" which is something to support or lean upon but without authority to decide or initiate.”

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“What about confusing clutter? Information overload? Doesn't data have to be "boiled down" and "simplified"? These common questions miss the point, for the quantity of detail is an issue completely separate from the difficulty of reading..”

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Eli Noam in: " Eli Noam: Market failure in the media sector http://www.citi.columbia.edu/elinoam/FT/2-16-04/MarketFailure.htm" at news.ft.com, February 16 2004
The context of this quote was a digression on the media, telecommunication, information technology, and internet industries.

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Friedrich Hayek 79

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