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The greater the uncertainties of the world, the greater is the possibility that profits would go to venturesome and lucky rather than to logical, careful, fact-gathering individuals.

— Armen Alchian

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More quotes by Armen Alchian

It is a general prevalence of double coincidence of information rather than wants by both parties that would avoid the use of money.

Where foresight is uncertain, “profit maximization” is meaningless as a guide to specifiable action.

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Attribution

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