Algorithms Can’t Replace Free Markets
In 1949, the University of Manchester held a symposium on “The Mind and the Computing Machine” featuring critical exchanges between Alan Turing and Michael Polanyi. The Discussion highlighted critical questions about completeness and computability as well as the challenges that semantics and judgment play in mapping mind and machines. F.A. Hayek made his own contributions to the theory of the mind culminating in The Sensory Order (1952). Hayek argued that the operation of the mind is analogous to the operation of the market.