I enjoyed reading our understanding of the articles discussing knowledge and its pertains to entrepreneurship. I had similar ideas when reading the articles and understanding how they relate to today's economy. I specifically agreed with your point stating that there are many different kinds of knowledge. That was my ultimate takeaway from the article (The use of knowledge in society, 2023). I believe that there are different types of smart in the world. These different uses of knowledge can determine if someone will grow up to be homeless, or an entrepreneur. Some people seem to be naturally born smarter than others. Genetics plays into this role. However, some people are born naturally less smart, but can compensate through hard work. I believe these people are smart through understanding that knowledge leads to intelligence.
I also gathered a similar takeaway to yours from Hayek's writing. From this article I learned that what you do with the knowledge is just as important as what knowledge you learn. There are people who seek to learn things that only pertain to their situation. Overall, there are many different reasons why people seek knowledge. What they do with knowledge is where people, in my opinion, are set apart. Some of his ideas around the expectation of people in the workforce surprised me. People can be knowledgeable about many things, but lack economic intelligence. If intelligence is not sought for a purpose, it can ultimately be useless. Knowledge in today's society seems to be less sought out. The media now allows for knowledge to be obtained on any subject very quickly. The use of knowledge is ultimately used differently by every person, but plays largely into economic balance.
There is a lot that can taken by your quote by Hayek stating:
“ When A fails B will take over with new knowledge to get the job done” (The use of knowledge in society, pg 6. 2023)
What I gathered from this is that sometimes our lack of knowledge causes us to seek new knowledge. What I mean by this is that when a possible solution doesn't work for a problem, it often causes us to seek new information to help solve that problem. Again, it is ultimately a reflection of what people do with the knowledge they obtain. I enjoyed reading your understanding of the writings. I agreed with your points in the article and had very similar takeaways in my reading experience.