Quotation of the Day…

by Don Boudreaux on July 3, 2012

in Complexity & Emergence, Economics, Growth

… is from page 81 of Israel Kirzner’s superb 1985 collection, Discovery and the Capitalist Process:

As soon as the economics of growth becomes correctly viewed as being in large part the economics of entrepreneurial discovery, it becomes difficult to see the processes of short-run resource allocation as anything but special cases of the more general discovery processes that constitute economic growth.

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