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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 Hayek

Biography

Author Profession: Economist
Nationality: Austrian Quotes
Born: May 8, 1899
Died: March 23, 1992

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