Quotation of the Day…

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… is from page 62 of Israel Kirzner’s March 1992 South African Journal of Economics paper, “Subjectivism, Freedom and Economic Law” as this paper is reprinted in Austrian Subjectivism and the Emergence of Entrepreneurship Theory, (Peter J. Boettke and Frédéric Sautet, eds., 2015), which is a volume in The Collected Works of Israel M. Kirzner:

Physical realities and constraints have, of course, enormously important consequences for economic outcomes. But the subjectivist must insist that economic outcomes are not determined by any objective physical phenomena whatever. All the powerful influences exercised upon human affairs by external phenomena are exercised strictly through the intermediation of active human minds. Because of this process of intermediation, outcomes are simply not uniquely implied by external phenomena.