We know, in other words, the general conditions in which what we call, somewhat misleadingly, an equilibrium will establish itself: but we never know what the particular prices or wages are which would exist if the market were to bring about such an equilibrium.
Friedrich August von HayekAbout author
- Author's profession: Economist
- Nationality: austrian
- Born: May 8, 1899
- Died: March 23, 1992
Related Authors
Topics
Quotes currently Trending
Literature is, to my mind, the great teaching power of the world, the ultimate creator of all values, and it is this, not only in the sacred books whose power everybody acknowledges, but by every movement of imagination in song or story or drama that height of intensity and sincerity has made literature at all. Literature must take the responsibility of its power, and keep all its freedom: it must be like the spirit and like the wind that blows where it listeth; it must claim its right to...
William Butler Yeats
Education can help us only if it produces "whole men." The truly educated man is not a man who knows a bit of everything, not even the man who knows all the details of all subjects (if such a thing were possible): the "whole man," in fact, may have very little detailed knowledge of facts & theories...but he will be truly in touch with the centre. He will not be in doubt about his basic convictions, about his view on the meaning and purpose of his life. He may not be able to explain these...
E. F. Schumacher
A person does not, as I had imagined, stand motionless and clear before our eyes with his merits, his defects, his plans, his intentions with regard to ourselves (like a garden at which we gaze through a railing with all its borders spread out before us), but is a shadow which we can never penetrate, of which there can be no such thing as direct knowledge, with respect to which we form countless beliefs, based upon words and sometimes actions, neither of which can give us anything but...
Marcel Proust