"We must allow the market to detect and rectify its own errors."
How revolutionary is this simple statement! To the ill-educated who cannot fathom the market as the means of communication but who comes to partially understand the role of entrepreneurs, the solution will be to try to create pseudo-entrepreneurs. In fact that is very similar to what exists already with the empiricists and ego-driven interventionists trying to perceive what is going on in the economy and then imposing some contrived scheme.
The essence then is that the ill-educated cannot fathom the market. The fact of the matter is that no one can; but that the Austrian economists understand that the market is a process in disequilibrium that reflects human action, making it a wellspring of information.
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