Quotation of the Day…

by Don Boudreaux on January 6, 2017

in Competition, Complexity & Emergence, Economics, Scientism, Seen and Unseen

… is from page 77 of Frank Machovec’s excellent 1995 book, Perfect Competition and the Transformation of Economics (original emphasis):

imagesNeoclassical analysis inspired a new frame of mind, one that was inhospitable to the classicals’ adherence to the mathematically unverifiable proposition that government control over resources, in general, was necessarily harmful because it suffocates the entrepreneurial initiatives that constitute the heart of the market’s process of discovery.

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