"In some form or other the rivalry of men will continue to be employed as an instrument of the general welfare. It is not important that the arrangements which currently are set down as the competitive system will endure. It is important that the spirit of competition shall be enhanced and not impaired. There must be an outlet for the creative urge, free play for the dynamic drive. In a society, as in the physical world, motion is inseparable from life."
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Academics from the United StatesEducators from the United StatesEconomists from the United StatesYale University facultyPeople from Tennessee
Original Language: English
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Walton H. Hamilton (1957), The politics of industry, p. 168-69; as cited in: Arnold, Thurman. "Walton Hale Hamilton." The Yale Law Journal 68.3 (1959): 399-400.
https://en.wikiquote.org/wiki/Walton_Hale_Hamilton
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Walton Hale Hamilton
1928 – 1948
Walton H. Hamilton (October 30, 1881 – October 27, 1958]]) was an American law professor who taught at the Yale Law School (1928–1948), although he was an economist, not a lawyer. In 1919 Hamilton coined the term "Institutional economics".
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