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Douglass North -
Structure and Change in Economic History (1981)
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Information costs are reduced by the existence of large numbers of buyers and sellers. Under these conditions, prices embody the same information that would require large search costs by individual buyers and sellers in the absence of an organized market.
Douglass North
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War is not its own end, except in some catastrophic slide into absolute damnation. It's peace that's wanted. Some better peace than the one you started with.
Lois McMaster Bujold
Douglass North
Creative Commons
Born:
November 5, 1920
Died:
November 23, 2015
(aged 95)
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