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Quotation of the Day…

… is from page 9 of the 2024 4th edition of Henry Butler’s, Joanna Shepherd’s, and James Cooper’s Economic Analysis for Lawyers:

Individuals are creative. They are able to conceive of changes in their environment, foresee the consequences thereof, and respond by creating new opportunities.

Although an individual’s opportunity set is limited at any instant in time by his or her knowledge and the state of the world, that limitation is not immutable. Human beings are not only capable of learning about new opportunities, they also engage in resourceful, creative activities that expand their opportunities in various ways.

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