Quotation of the Day…

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… is from page 201 of the original edition of volume III (“The Political Order of a Free People,” 1979) of F.A. Hayek’s Law, Legislation, and Liberty:

Unfortunately, techniques of research can be readily learnt, and the facility with them lead to teaching positions, by men who understand little of the subject investigated, and their work is then often mistaken for science. But without a clear conception of the problems the state of theory raises, empirical work is usually a waste of time and resources.