“If every effect of any new products or methods were required to be known before they could be produced and marketed, they would not be true innovations - and thus not represent new knowledge of what people would like, if offered.”

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Originally said in English.

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About Edmund Phelps

Edmund Phelps is quoted here; further biographical details are not publicly available.

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"If every effect of any new products or methods were required to be kn…" — Edmund Phelps | Daily Quotes