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Frank Knight, an American economist, revolutionized the field of economics with his seminal contributions to the study of uncertainty and risk. Through rigorous analysis and theoretical insights, Knight provided invaluable frameworks for understanding the complexities of market dynamics and decision-making processes. His profound influence continues to shape economic thought and policy debates around the world.

"Goods move in response to price differences from points of low to points of higher price, the movement tending to obliterate the price difference and come to rest."



"The possibility of saying anything about a thing rests on the assumption that it preserves its identity, or continues to be the same thing in the respect described, that it will behave in future situations as it has in past."


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