...once again requiring a pretty radically redistributive program to correct. Workers also have a wealth of tacit knowledge about production which dipshit managers do not. To take advantage of this workers need say in the workplace + financial inducements to expand production

On planning, the problems of dispersed knowledge apply to the private sector as well as the public sector. So while full central planning is indeed impossible, Maurice Dobb argued that the public sector would have imperfect but uniquely good information, esp on social objectives

George Richardson also has shown that dispersed knowledge + uncertainty about the future can create prisoners dilemma-type scenarios which discourage investment, as well as failure of atomized decision makers to coordinate complementary investments

So dispersed knowledge means there is a wide scope for public investment as well as a role for the public sector in inducing/coordinating/steering private investment. Though to be clear making these policy levers truly work in the public interest is not a trivial problem!!!

In sum Hayek makes a convincing case that we should not try a carbon copy of the USSR, but the implication is also that we should also aim to create a society with a much higher degree of egalitarianism and economic socialization than any society that has existed so far