Friedrich Hayek and Gunnar Myrdal shared the 1974 Nobel Prize in Economics and spent the rest of their careers regretting it. Today, they're back to settle whether AI requires regulation, or whether the free market can handle it.

Hayek says that no regulator, no CEO, and no committee can outthink a market processing more information than any single mind could ever hold. Myrdal says having no one at the wheel is abdication, not liberty, and cumulative causation means that the gap between who benefits from AI and who gets left behind is widening.

Which economist has AI aligned with reality and which one's going rogue?