Quote by Vernon L. Smith
I gradually became persuaded that the subjects, without intending to, had revealed to me a basic truth about markets that was foreign to the literature of economics.
Summary
The quote suggests that the person initially did not understand a fundamental aspect of markets, as it was not mentioned in the economic literature. However, through the subjects' unintentional actions or behaviors, the individual gradually came to acknowledge and accept this truth about markets. It implies that insights derived from real-world experiences can sometimes uncover important principles that are not fully captured or emphasized in academic or theoretical literature.
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