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Top 2 Ludwig Lachmann Quotes (2025 Update)

Ludwig Lachmann Quote: “A progressive economy is not an economy in which no capital is ever lost, but an economy which can afford to lose capital because the productive opportunities revealed by the loss are vigorously exploited.”
Ludwig Lachmann Quote: “Formalism, in opting for the functional mode making possible precise quantitative determinations within a closed system of variables, forgoes the possibility of making meaningful statements about human action.”
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