- Cafe Hayek - https://cafehayek.com -

Quotation of the Day…

Tweet [1]

… is from page 86 of Frank Knight [2]‘s 1951 primer, The Economic Organization [3]​ (which was initially privately published in 1933):

[T]he competition of producers for productive power tends to guide or force productive power [that is, inputs, including labor] into the most important use, and to force the employment of the most efficient available productive technique – and incidentally, to encourage the development of constantly more effective techniques as well.

Share [4] Tweet [5] Share [6] Email [7] Print [8]

Comments