Quotes from book
An Evolutionary Theory of Economic Change

Sidney G. Winter

“The dilemma of a socialized system is that the information flow overwhelms a centralized system if it is open to new ideas and data, that closing the system and forcing the plan to work forecloses alternatives and risks unhedged mistakes, and that decentralizing without real markets poses the problems discussed by Hayek. These information problems permeate virtually all economic processes.”

Sidney G. Winter book An Evolutionary Theory of Economic Change

Richard Nelson and Sidney Winter, An Evolutionary Theory of Economic Change (1982), p. 365

Similar authors

Sidney G. Winter photo
Sidney G. Winter4
American economist 1935
Thomas J. Sargent photo
Thomas J. Sargent10
American economist None
Paul A. Samuelson photo
Paul A. Samuelson47
American economist None
Theodore Schultz photo
Theodore Schultz15
American economist None
Douglass C. North photo
Douglass C. North18
American Economist None
Paul Krugman photo
Paul Krugman106
American economist None
Jan Tinbergen photo
Jan Tinbergen21
Dutch economist None
John Maynard Keynes photo
John Maynard Keynes122
British economist None
Kenneth Arrow photo
Kenneth Arrow37
American economist None
Wassily Leontief photo
Wassily Leontief10
Russian economist None