HAYEK QUOTE OF THE DAY

“Stable monetary conditions require that the stream of money expenditure is the fixed datum to which prices and wages have to adapt themselves, and not the other way around.” — F. A. Hayek

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Our predictive capacity of the specific things which the economic system will do at a particular date is limited in exactly the same fashion in which our biological knowledge is largely limited if our task were to predict what a living organism will do at a particular date. — F. A. Hayek

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