A relevant notion of efficiency must refer to scarcity and people as they are, not as they could be.


Cited in: Eggertsson (1990; 22) - "Information and Efficiency: Another Viewpoint." (1969)

Harold Demsetz Quotes

A relevant notion of efficiency must refer to scarcity and people as they are, not as they could be.

A relevant notion of efficiency must refer to scarcity and people as they are, not as they could be.

A relevant notion of efficiency must refer to scarcity and people as they are, not as they could be.

A relevant notion of efficiency must refer to scarcity and people as they are, not as they could be.