Friday, March 20, 2009

Blockquoting X

X = Harold Demsetz:
Whether the free enterprise solution can be improved upon by the substitution of the government or other nonprofit institutions in the financing of research cannot be ascertained solely by examining the free enterprise solution. The political or nonprofit forces that are substituted for free enterprise must be analyzed and the outcome of the workings of these forces must be compared to the market solution before any such conclusion can be drawn. (Information and Efficiency: Another Viewpoint, p. 2)


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