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Quotation of the Day…
Posted By Don Boudreaux On November 9, 2012 @ 7:56 am In Economics,The Future | Comments Disabled
Schumpeter derived a pair of principles from the example of the optimists. First, the accuracy of an economic vision is not always commensurate with the analytical ability of those who hold it. Second, pessimistic visions about almost anything usually strike the public as more erudite than optimistic ones.
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URLs in this post:
 Joseph Schumpeter: http://www.econlib.org/library/Enc/bios/Schumpeter.html
 Prophet of Innovation: http://www.amazon.com/Prophet-Innovation-Schumpeter-Creative-Destruction/dp/0674025237/ref=sr_1_1?ie=UTF8&s=books&qid=1213024286&sr=1-1
 Very sadly, Thomas McCraw passed away last week: http://www.nytimes.com/2012/11/07/business/thomas-k-mccraw-historian-who-enlivened-economics-dies-at-72.html
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