Quote of the day
It goes without saying that the desire to accomplish the task with more confidence, to avoid wasting time and labour, and to spare our experimental animals as much as possible, made us strictly observe all the precautions taken by surgeons in respect to their patients.
Fritz Machlup

Born: December 15, 1902
Died: January 30, 1983 (aged 80)
Bio: Fritz Machlup was an Austrian-American economist who was president of the International Economic Association from 1971 1974. He was one of the first economists to examine knowledge as an economic resource, and is credited with popularizing the concept of the information society.
Known for:
- Essays on economic semantics (1963)
- A history of thought on economic integration (1977)
- Essays on Hayek (1976)







