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Video: Dr. Robert Murphy: Government Stimulus: Repeating the mistakes of the Great Depression

First Published: 2009-06-26

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…the task of the entrepreneur consists precisely in finding, in a world of perpetual change, which combination of resources will yield, in the conditions of today, a maximum surplus of output over input value, and in guessing which will do so in the probable conditions of tomorrow, when output values, cost of complementary input, and technology all will have changed. (1940)Ludwig M. Lachmann

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