Today I have just realized the title of my blog is very similar to a quote from THE ECONOMICS OF TIME AND IGNORANCE, an excellent book by M. Rizzo & G. O'Driscoll.
"The competitive market process is a never-ending learning process... Error is part of the very market process itself, part of the stimulus to further adjustments" (p. 126)
Another great quote: "Since the essence of real time includes novelty and causal efficacy, the future cannot be logically derived from the present because the former has not yet been created" (p.65)
It has excellent and beautiful quotes and it may be the best book comparing the Austrian versus the neoclassical approach to microeconomics. Has anyone of you read it? What do you think?