Efficiency Means More than Using the Existing Stock of Resources Well By Donald J. Boudreaux

“In an open market economy, the stock of resources will never be fixed. The size and contents of that stock will change over time and that change is appropriately reckoned to be a result of the economic system.” ~ Donald J. Boudreaux

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The American Institute for Economic Research, also known as AIER, is an economic research institute located in Great Barrington, Massachusetts. It was founded in 1933 by the 20th century economist Edward C. Harwood with the intention of protecting individual rights and continues to produce quality content on subjects of policy, philosophy and economic science.