Quote of the day
Suffering is not good for the soul, unless it teaches you how to stop suffering. That is its purpose.
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)