Wednesday, April 01, 2015

Knox's Vote: Mises 1, Hayek 0

"But it is not the complexity of the field of human conduct which makes difficult the actual application to a given situation of an economic generalization; it is, as we have seen, the essential unpredictability of human conduct, the unforeseeable novelty which human ingenuity ceaselessly imports into the world of its creation." -- T.M. Knox, "The Study of Economic Activity," Philosophy, 1936

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