Investment Project Manager

What fools call “wasting time” is most often the best investment.

[I]n the humanities and social sciences, and in fields like journalism and economics and so on … people have to be trained to be managers, and controllers, and to accept things, and not to question too much.

Investment of capital, to yield its fruit in the future, must be based on expectations, of opportunities in the future. When I put this to Hayek, he told me that this was indeed the direction in which he had been thinking. Hayek gave me a copy of a paper on 'intertemporal equilibrium', which he had written some years before his arrival in London; the conditions for a perfect foresight equilibrium were there set out in a very sophisticated manner.