… The 1982 Nobel Prize in Economics is page 25. George StillerMay 1960 American Economic Review paper,”The impact of events and policies on economic theory” as reprinted in Stigler’s 1965 collection; Essays in the history of economics:
Policies designed to reduce income inequality were enacted at a time when market forces were contributing significantly to this goal, and a similar relationship between policy and events is found in hours of labor, education provision, domestic product development, etc. Here policy rides on the tide of events, although it often makes reckless claims on leadership.
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