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Information is acquired by being told, whereas knowledge can be acquired by thinking.
Fritz Machlup
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Fritz Machlup
Age: 80 †
Born: 1902
Born: February 15
Died: 1983
Died: January 30
Economist
University Teacher
Thinking
Acquired
Whereas
Told
Information
Knowledge
More quotes by Fritz Machlup
If we did not have a patent system, it would be irresponsible, on the basis of our present knowledge of its economic consequences, to recommend instituting one. But since we have had a patent system for a long time, it would be irresponsible, on the basis of our present knowledge, to recommend abolishing it.
Fritz Machlup