"Schumpeter’s attempt to prove his assertion to the layman characteristically begins by assuming that ‘means of production are present in given and, for the moment, unalterable quantities’. He does not explain to whom these quantities are ‘given’, that is, known, nor how much about their various attributes and potentialities anybody knows."
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Politicians from AustriaAcademics from AustriaGovernment ministersFinance ministersEconomists from Austria
Original Language: English
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Friedrich Hayek, "Two Pages of Fiction: The Impossibility of Socialist Calculation", Economic Affairs (1982)
https://en.wikiquote.org/wiki/Joseph_Schumpeter
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Joseph Schumpeter
Joseph Alois Schumpeter (February 8, 1883 – January 8, 1950) was an economist from Austria and an influential political scientist.
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