Friday, March 30, 2012

Hayek: Theory & Economic History

"The idea that one can trace the causal connections of any events without employing a theory, or that such a theory will emerge automatically from the accumulation of a sufficient amount of facts, is of course sheer illusion....Common sense is a treacherous guide in this field [economic history], and what seem 'obvious' explanations frequently are no more than commonly accepted superstitions."


No comments:

Post a Comment