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The notion that our productivity problems reside in "the spirit of entrepreneurship" that waxes and wanes for unexplained reasons is a counsel of despair, for it gives no guidance on how to reawaken that spirit once it has lagged

— William J. Baumol

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More quotes by William J. Baumol

There seems to be a general consensus among informed observers that genuine cases of predation are very rare birds.

In order for a writer to produce something which is original and correct, it is not absolutely necessary that his predecessors have been wrong.

The price-tax conditions necessary to sustain the Pareto optimality of a competitive market solution under the assumed convexity conditions are tantamount to standard Pigovian rules, with neither taxes imposed upon, nor compensation paid to, the victims of externalities.

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Quote text and notes from Wikiquote: William J. Baumol (page history), available under CC BY-SA 4.0. Source quality and labels are our own summary of what Wikiquote records.